Allred Capital Management LLC reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 876 shares of the information services provider’s stock after selling 14 shares during the quarter. Alphabet accounts for approximately 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 quarter.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Virtus Alternative Investment Advisers Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at about $45,000. Cedar Mountain Advisors LLC lifted its position in shares of Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares in the last quarter. Watson Rebecca purchased a new position in shares of Alphabet during the 2nd quarter valued at about $60,000. CVA Family Office LLC purchased a new position in shares of Alphabet during the 1st quarter valued at about $70,000. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at about $84,000. Institutional investors and hedge funds own 33.78% of the company’s stock.

Alphabet stock opened at $1,567.70 on Friday. The stock has a 50-day moving average of $1,519.73 and a two-hundred day moving average of $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. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,726.10. The stock has a market cap of $1,066.29 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, sell-side analysts predict that Alphabet Inc will post 44.87 EPS for the current fiscal year.

A number of research analysts have recently weighed in on GOOGL shares. KeyCorp started coverage on Alphabet in a research report on Monday, September 14th. They set an “overweight” rating and a $1,955.00 price objective on the stock. Mizuho boosted their price target on Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Pivotal Research boosted their price target on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Credit Suisse Group boosted their price target on Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Finally, Royal Bank of Canada boosted their price target on Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Four analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,679.91.

Alphabet Company 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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