Argent Capital Management LLC reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,020 shares of the information services provider’s stock after selling 353 shares during the period. Alphabet accounts for about 3.6% of Argent Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Argent Capital Management LLC’s holdings in Alphabet were worth $99,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GOOGL. BlackRock Inc. raised its holdings in Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after buying an additional 269,848 shares during the period. Summit Trail Advisors LLC raised its holdings in Alphabet by 134,676.9% in the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after buying an additional 17,925,496 shares during the period. Bank of New York Mellon Corp raised its holdings in Alphabet by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after buying an additional 24,188 shares during the period. Jennison Associates LLC raised its holdings in Alphabet by 10.1% in the second quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock valued at $1,965,840,000 after buying an additional 159,959 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in Alphabet by 115,058.0% in the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after buying an additional 1,387,599 shares during the period. Institutional investors and hedge funds own 33.40% of the company’s stock.

A number of analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $1,500.00 price objective (down previously from $1,515.00) on shares of Alphabet in a research note on Wednesday, November 14th. JMP Securities reiterated a “market outperform” rating and set a $1,375.00 price objective (down previously from $1,390.00) on shares of Alphabet in a research note on Friday, November 2nd. Canaccord Genuity reiterated a “hold” rating and set a $1,140.00 price objective (down previously from $1,170.00) on shares of Alphabet in a research note on Friday, October 26th. Goldman Sachs Group dropped their price objective on shares of Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, Barclays dropped their price objective on shares of Alphabet from $1,415.00 to $1,400.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,333.29.

GOOGL stock opened at $1,030.45 on Wednesday. Alphabet Inc has a twelve month low of $984.00 and a twelve month high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10. The company has a market cap of $743.38 billion, a PE ratio of 32.15, a P/E/G ratio of 1.31 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The business had revenue of $27.16 billion during the quarter, compared to the consensus estimate of $27.32 billion. On average, analysts anticipate that Alphabet Inc will post 45.24 EPS for the current year.

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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