Douglas Lane & Associates LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,289 shares of the information services provider’s stock after selling 615 shares during the period. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $36,526,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Profit Investment Management LLC raised its stake in Alphabet by 21.9% in the second quarter. Profit Investment Management LLC now owns 1,482 shares of the information services provider’s stock valued at $1,378,000 after buying an additional 266 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Alphabet by 5.6% in the second quarter. Patten & Patten Inc. TN now owns 8,422 shares of the information services provider’s stock valued at $7,830,000 after buying an additional 446 shares during the last quarter. Johnson Financial Group LLC raised its stake in Alphabet by 3.3% in the second quarter. Johnson Financial Group LLC now owns 309 shares of the information services provider’s stock valued at $287,000 after buying an additional 10 shares during the last quarter. First Quadrant L P CA raised its stake in Alphabet by 23.4% in the second quarter. First Quadrant L P CA now owns 54,136 shares of the information services provider’s stock valued at $50,329,000 after buying an additional 10,267 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Alphabet by 9.7% in the second quarter. Aperio Group LLC now owns 219,112 shares of the information services provider’s stock valued at $203,704,000 after buying an additional 19,360 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Shares of Alphabet Inc. (GOOGL) traded up 0.78% during midday trading on Friday, reaching $930.79. 966,610 shares of the company were exchanged. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The company has a 50 day moving average price of $957.55 and a 200-day moving average price of $908.38. The stock has a market capitalization of $644.92 billion, a P/E ratio of 33.73 and a beta of 0.99.

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

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Several equities analysts recently weighed in on GOOGL shares. Cowen and Company restated an “outperform” rating and set a $1,075.00 price target on shares of Alphabet in a research report on Thursday. MKM Partners restated a “buy” rating and set a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday. Piper Jaffray Companies restated an “overweight” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Wednesday. Mizuho restated a “buy” rating and set a $1,220.00 price target on shares of Alphabet in a research report on Monday. Finally, B. Riley restated a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,049.20.

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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