Oak Ridge Investments LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,334 shares of the company’s stock after selling 1,729 shares during the period. Oak Ridge Investments LLC’s holdings in Alphabet were worth $21,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Alecta Pensionsforsakring Omsesidigt purchased a new stake in shares of Alphabet during the first quarter worth approximately $1,194,778,000. Bank of Montreal Can purchased a new stake in shares of Alphabet during the second quarter worth approximately $761,801,000. Emerald Acquisition Ltd. purchased a new stake in shares of Alphabet during the second quarter worth approximately $400,022,000. Investec Asset Management LTD boosted its stake in shares of Alphabet by 944.0% in the first quarter. Investec Asset Management LTD now owns 326,855 shares of the company’s stock worth $249,358,000 after buying an additional 295,547 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of Alphabet during the first quarter worth approximately $218,533,000. 34.12% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.66% during midday trading on Wednesday, hitting $805.03. 1,346,660 shares of the stock were exchanged. The stock has a market cap of $553.28 billion, a P/E ratio of 31.19 and a beta of 0.98. The firm’s 50 day moving average price is $799.20 and its 200-day moving average price is $754.04. Alphabet Inc. has a 52-week low of $617.84 and a 52-week high of $813.88.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities research analysts expect that Alphabet Inc. will post $34.25 earnings per share for the current fiscal year.

A number of brokerages have commented on GOOGL. Robert W. Baird reiterated a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG reiterated a “buy” rating and issued a $920.00 price target on shares of Alphabet in a research note on Sunday, July 17th. Bank of America Corp. restated a “buy” rating and set a $925.00 target price on shares of Alphabet in a research note on Sunday, July 17th. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $819.81 target price for the company. in a research note on Tuesday, May 24th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research note on Saturday, June 4th. Two equities research analysts have rated the stock with a hold rating, forty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus target price of $925.42.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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