Xcel Wealth Management LLC Sells 209 Shares of Alphabet Inc. (NASDAQ:GOOGL)


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Xcel Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,226 shares of the information services provider’s stock after selling 209 shares during the period. Alphabet comprises 2.4% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Xcel Wealth Management LLC’s holdings in Alphabet were worth $6,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Corundum Group Inc. grew its position in Alphabet by 3.0% in the 4th quarter. Corundum Group Inc. now owns 174 shares of the information services provider’s stock worth $305,000 after purchasing an additional 5 shares in the last quarter. JGP Wealth Management LLC grew its position in Alphabet by 2.0% in the 4th quarter. JGP Wealth Management LLC now owns 260 shares of the information services provider’s stock worth $534,000 after purchasing an additional 5 shares in the last quarter. Confluence Investment Management LLC grew its position in Alphabet by 2.4% in the 1st quarter. Confluence Investment Management LLC now owns 212 shares of the information services provider’s stock worth $437,000 after purchasing an additional 5 shares in the last quarter. Cardan Capital Partners LLC grew its position in Alphabet by 0.8% in the 1st quarter. Cardan Capital Partners LLC now owns 601 shares of the information services provider’s stock worth $1,239,000 after purchasing an additional 5 shares in the last quarter. Finally, Family Firm Inc. grew its position in Alphabet by 1.9% in the 4th quarter. Family Firm Inc. now owns 319 shares of the information services provider’s stock worth $551,000 after purchasing an additional 6 shares in the last quarter. 33.79% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on GOOGL. Wedbush reaffirmed an “outperform” rating and issued a $2,953.00 price objective (up from $2,470.00) on shares of Alphabet in a research report on Wednesday. Piper Sandler boosted their target price on shares of Alphabet from $2,056.00 to $2,250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Mizuho boosted their target price on shares of Alphabet from $2,100.00 to $2,350.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. Finally, Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,525.00 target price on the stock in a research note on Tuesday, February 16th. One investment analyst has rated the stock with a hold rating and forty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $2,151.57.

GOOGL stock opened at $2,282.75 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. Alphabet Inc. has a 52 week low of $1,205.00 and a 52 week high of $2,296.00. The firm’s fifty day moving average is $2,097.01 and its 200 day moving average is $1,849.49. The firm has a market cap of $1.54 trillion, a P/E ratio of 44.11, a P/E/G ratio of 1.65 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.90 by $6.40. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.09 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. During the same quarter last year, the firm earned $15.35 EPS. As a group, analysts forecast that Alphabet Inc. will post 52.19 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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