Tower Bridge Advisors reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 15,269 shares of the company’s stock after selling 348 shares during the period. Alphabet comprises approximately 1.5% of Tower Bridge Advisors’ portfolio, making the stock its 21st largest position. Tower Bridge Advisors’ holdings in Alphabet were worth $12,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CFO4Life L.P. boosted its position in Alphabet by 1.3% in the third quarter. CFO4Life L.P. now owns 702 shares of the company’s stock worth $564,000 after buying an additional 9 shares during the period. Hartwell J M Limited Partnership boosted its position in Alphabet by 0.3% in the third quarter. Hartwell J M Limited Partnership now owns 22,280 shares of the company’s stock worth $17,914,000 after buying an additional 70 shares during the period. Bank of The West boosted its position in Alphabet by 19.1% in the third quarter. Bank of The West now owns 15,731 shares of the company’s stock worth $12,649,000 after buying an additional 2,519 shares during the period. Nwam LLC boosted its position in Alphabet by 6.5% in the third quarter. Nwam LLC now owns 1,710 shares of the company’s stock worth $1,375,000 after buying an additional 104 shares during the period. Finally, Lee Danner & Bass Inc. boosted its position in Alphabet by 2.2% in the third quarter. Lee Danner & Bass Inc. now owns 689 shares of the company’s stock worth $554,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 34.63% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) traded up 1.3107% during midday trading on Tuesday, hitting $796.0895. 863,293 shares of the stock traded hands. The company has a 50-day moving average of $799.78 and a 200-day moving average of $772.81. Alphabet Inc. has a 1-year low of $672.66 and a 1-year high of $839.00. The stock has a market cap of $548.70 billion, a PE ratio of 29.1373 and a beta of 0.92.

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A number of research firms have recently weighed in on GOOGL. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $950.00 price objective on shares of Alphabet in a research report on Friday, September 9th. B. Riley reaffirmed a “buy” rating and set a $990.00 price objective on shares of Alphabet in a research report on Friday, October 28th. Wedbush lowered Alphabet from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $7.20 to $800.00 in a research report on Tuesday, September 27th. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $880.83 price objective on the stock in a research report on Thursday, November 24th. Finally, Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $940.44.

About Alphabet

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.

5 Day Chart for NASDAQ:GOOGL

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