Raymond James Trust N.A. reduced its stake in Alphabet Inc (NASDAQ:GOOGL) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,212 shares of the information services provider’s stock after selling 80 shares during the quarter. Raymond James Trust N.A.’s holdings in Alphabet were worth $12,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norway Savings Bank raised its stake in Alphabet by 8.5% in the third quarter. Norway Savings Bank now owns 716 shares of the information services provider’s stock valued at $1,050,000 after purchasing an additional 56 shares in the last quarter. First National Bank Sioux Falls raised its stake in Alphabet by 7.2% in the third quarter. First National Bank Sioux Falls now owns 178 shares of the information services provider’s stock valued at $261,000 after purchasing an additional 12 shares in the last quarter. Aries Wealth Management raised its stake in Alphabet by 1.4% in the third quarter. Aries Wealth Management now owns 1,190 shares of the information services provider’s stock valued at $1,744,000 after purchasing an additional 16 shares in the last quarter. Schneider Downs Wealth Management Advisors LP raised its stake in Alphabet by 7.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 314 shares of the information services provider’s stock valued at $460,000 after purchasing an additional 23 shares in the last quarter. Finally, Strategic Investment Advisors MI raised its stake in shares of Alphabet by 14.9% during the third quarter. Strategic Investment Advisors MI now owns 439 shares of the information services provider’s stock worth $661,000 after acquiring an additional 57 shares in the last quarter. 33.78% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on GOOGL. Monness Crespi & Hardt lifted their price target on shares of Alphabet from $1,420.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. 140166 lifted their price target on shares of Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Mizuho lifted their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wells Fargo & Company reissued a “buy” rating and set a $1,750.00 price target (up from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. Finally, Pivotal Research lifted their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,679.91.

NASDAQ GOOGL opened at $1,567.70 on Friday. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,726.10. The firm has a market capitalization of $1,066.29 billion, a P/E ratio of 34.48, a PEG ratio of 2.14 and a beta of 1.10. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $1,519.73 and a 200-day moving average price of $1,433.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The firm had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. As a group, equities research analysts anticipate that Alphabet Inc will post 44.87 EPS for the current year.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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