Lucia Wealth Services LLC Decreases Holdings in Alphabet Inc (GOOGL)
Lucia Wealth Services LLC decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 15.7% in the second quarter, HoldingsChannel reports. The firm owned 1,882 shares of the information services provider’s stock after selling 350 shares during the quarter. Alphabet comprises approximately 0.9% of Lucia Wealth Services LLC’s investment portfolio, making the stock its 24th largest position. Lucia Wealth Services LLC’s holdings in Alphabet were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HC Financial Advisors Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $616,000. Financial Gravity Wealth Inc. acquired a new position in Alphabet in the 1st quarter worth approximately $550,000. Fulcrum Capital LLC boosted its stake in Alphabet by 8.4% in the 1st quarter. Fulcrum Capital LLC now owns 6,858 shares of the information services provider’s stock worth $7,113,000 after purchasing an additional 534 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Alphabet by 8.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,468 shares of the information services provider’s stock worth $28,488,000 after purchasing an additional 2,074 shares during the period. Finally, Silvant Capital Management LLC acquired a new position in Alphabet in the 1st quarter worth approximately $18,654,000. Institutional investors and hedge funds own 33.40% of the company’s stock.
A number of equities analysts recently commented on GOOGL shares. SunTrust Banks raised their price objective on shares of Alphabet to $1,370.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Bank of America reissued a “buy” rating and set a $1,390.00 target price (up previously from $1,270.00) on shares of Alphabet in a research note on Tuesday, July 24th. Aegis lifted their target price on shares of Alphabet from $1,360.00 to $1,425.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Jefferies Financial Group lifted their target price on shares of Alphabet to $1,450.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt lifted their target price on shares of Alphabet from $1,306.00 to $1,415.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $1,333.29.
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, beating analysts’ consensus estimates of $10.54 by $2.52. The business had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. On average, research analysts expect that Alphabet Inc will post 45.24 EPS for the current year.
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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.
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