Allred Capital Management LLC trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.6% during the third quarter, Holdings Channel.com reports. The fund owned 876 shares of the information services provider’s stock after selling 14 shares during the quarter. Alphabet accounts for about 0.8% of Allred Capital Management LLC’s holdings, making the stock its 27th biggest position. Allred Capital Management LLC’s holdings in Alphabet were worth $1,283,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Advisor Group Holdings Inc. bought a new position in Alphabet during the first quarter worth about $79,769,000. Nordea Investment Management AB increased its holdings in Alphabet by 115.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,164,092 shares of the information services provider’s stock valued at $1,620,126,000 after buying an additional 623,604 shares during the period. BlackRock Inc. increased its holdings in Alphabet by 2.2% in the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock valued at $29,163,413,000 after buying an additional 445,690 shares during the period. Bank of New York Mellon Corp increased its holdings in Alphabet by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock valued at $4,976,599,000 after buying an additional 439,638 shares during the period. Finally, Softbank Group Corp bought a new position in Alphabet in the 2nd quarter valued at about $475,176,000. 33.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:GOOGL opened at $1,567.70 on Friday. The company’s 50-day moving average is $1,519.73 and its 200 day moving average is $1,433.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The company has a market capitalization of $1,066.29 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, research analysts predict that Alphabet Inc will post 44.87 earnings per share for the current year.

Several equities analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Moffett Nathanson raised their target price on shares of Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Jefferies Financial Group raised shares of Alphabet to a “buy” rating in a report on Monday, July 13th. BofA Securities raised their target price on shares of Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, MKM Partners lifted their price target on shares of Alphabet from $1,500.00 to $1,700.00 in a report on Monday, July 27th. Four equities research analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $1,679.91.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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