Sterling Investment Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,118 shares of the company’s stock after selling 67 shares during the period. Sterling Investment Management Inc.’s holdings in Alphabet were worth $787,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Capstone Asset Management Co. raised its position in Alphabet by 1.0% in the first quarter. Capstone Asset Management Co. now owns 23,170 shares of the company’s stock valued at $17,676,000 after buying an additional 238 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Alphabet by 15.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 66,221 shares of the company’s stock valued at $50,520,000 after buying an additional 8,946 shares in the last quarter. CENTRAL TRUST Co bought a new stake in shares of Alphabet during the first quarter valued at about $4,205,000. DnB Asset Management AS raised its stake in shares of Alphabet by 15.8% in the first quarter. DnB Asset Management AS now owns 243,341 shares of the company’s stock valued at $184,802,000 after buying an additional 33,131 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in shares of Alphabet by 13.8% in the first quarter. CHICAGO TRUST Co NA now owns 1,935 shares of the company’s stock valued at $1,476,000 after buying an additional 235 shares during the period. Institutional investors and hedge funds own 34.12% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.66% during trading on Wednesday, reaching $805.03. The company’s stock had a trading volume of 1,346,660 shares. Alphabet Inc. has a one year low of $617.84 and a one year high of $813.88. The stock has a market cap of $553.28 billion, a price-to-earnings ratio of 31.19 and a beta of 0.98. The company has a 50-day moving average price of $799.20 and a 200-day moving average price of $754.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 forecast that Alphabet Inc. will post $34.25 earnings per share for the current fiscal year.

Several brokerages recently issued reports on GOOGL. Robert W. Baird reaffirmed a “buy” rating on shares of Alphabet in a report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $920.00 price target on shares of Alphabet in a report on Sunday, July 17th. Bank of America Corp. reaffirmed a “buy” rating and set a $925.00 price target on shares of Alphabet in a report on Sunday, July 17th. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $819.81 price target on the stock. in a report on Tuesday, May 24th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Saturday, June 4th. Two research analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average 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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