Wrapmanager Inc. Decreases Holdings in Alphabet Inc. (GOOGL)
Wrapmanager Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 626 shares of the information services provider’s stock after selling 24 shares during the period. Wrapmanager Inc.’s holdings in Alphabet were worth $582,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Alphabet in the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $108,000. Parkside Financial Bank & Trust increased its stake in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares in the last quarter. Farmers National Bank increased its stake in shares of Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after purchasing an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in shares of Alphabet by 58.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 33.87% of the company’s stock.
GOOGL has been the subject of several recent analyst reports. Pivotal Research reaffirmed a “hold” rating and issued a $980.00 target price (down previously from $990.00) on shares of Alphabet in a report on Monday, July 17th. Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Monday, July 17th. Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,016.13 target price for the company. in a report on Tuesday, July 18th. Finally, J P Morgan Chase & Co upped their target price on shares of Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,088.53.
Shares of Alphabet Inc. (NASDAQ:GOOGL) opened at $1,044.15 on Friday. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,063.62. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The company has a market cap of $725,476.50, a price-to-earnings ratio of 34.96, a PEG ratio of 1.76 and a beta of 0.91.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same period in the previous year, the firm posted $9.06 earnings per share. research analysts predict that Alphabet Inc. will post 32.15 EPS for the current fiscal year.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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