BTIM Corp. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 32,584 shares of the information services provider’s stock after selling 233 shares during the period. BTIM Corp.’s holdings in Alphabet were worth $30,293,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $108,000. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Farmers National Bank raised its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 34.31% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) traded down 1.50% during midday trading on Thursday, reaching $925.98. The company had a trading volume of 1,334,107 shares. The stock has a 50-day moving average price of $959.12 and a 200 day moving average price of $908.27. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The company has a market capitalization of $641.59 billion, a PE ratio of 33.56 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the previous year, the firm posted $8.42 earnings per share. Equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.

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Several equities research analysts recently weighed in on the company. UBS AG restated a “buy” rating and issued a $1,050.00 target price (up from $980.00) on shares of Alphabet in a report on Saturday, April 29th. B. Riley restated a “buy” rating and issued a $1,032.00 target price on shares of Alphabet in a report on Wednesday, May 3rd. MKM Partners restated a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a report on Thursday. KeyCorp restated an “overweight” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Thursday, July 27th. Finally, JMP Securities restated a “buy” rating and issued a $1,077.00 target price (down from $1,095.00) on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,048.66.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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