Congress Asset Management Co. MA Has $42,011,000 Stake in Alphabet Inc. (GOOGL)
Congress Asset Management Co. MA lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,715 shares of the company’s stock after selling 1,031 shares during the period. Congress Asset Management Co. MA’s holdings in Alphabet were worth $42,011,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Dividend Assets Capital LLC acquired a new position in Alphabet during the second quarter valued at approximately $120,000. Peoples Financial Services CORP. raised its position in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock valued at $155,000 after buying an additional 5 shares during the last quarter. Cacti Asset Management LLC acquired a new position in Alphabet during the second quarter valued at approximately $162,000. Oakworth Capital Inc. raised its position in Alphabet by 4.9% in the second quarter. Oakworth Capital Inc. now owns 277 shares of the company’s stock valued at $207,000 after buying an additional 13 shares during the last quarter. Finally, Founders Capital Management LLC acquired a new position in Alphabet during the second quarter valued at approximately $196,000. 34.12% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded up 1.36% during midday trading on Thursday, reaching $815.95. The company had a trading volume of 1,757,352 shares. The company has a market cap of $560.78 billion, a PE ratio of 31.61 and a beta of 0.98. Alphabet Inc. has a 52-week low of $617.84 and a 52-week high of $819.06. The company’s 50-day moving average is $799.34 and its 200 day moving average is $754.40.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ 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 EPS for the current year.
GOOGL has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and issued a $880.00 price target on shares of Alphabet in a report on Monday, September 12th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $838.19 price target on the stock in a report on Monday, August 22nd. Bank of America Corp. restated a “buy” rating and issued a $960.00 price target on shares of Alphabet in a report on Wednesday, August 31st. Robert W. Baird restated an “outperform” rating and issued a $900.00 price target on shares of Alphabet in a report on Friday, September 9th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Saturday, September 10th. Two equities research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average target price of $925.42.
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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