Raymond James Trust N.A. lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,212 shares of the information services provider’s stock after selling 80 shares during the period. Raymond James Trust N.A.’s holdings in Alphabet were worth $12,035,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOGL. BlackRock Inc. raised its position in Alphabet by 2.2% in the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock worth $29,163,413,000 after buying an additional 445,690 shares during the last quarter. State Street Corp increased its position in shares of Alphabet by 0.4% during the 1st quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after purchasing an additional 45,599 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Alphabet by 14.3% during 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 purchasing an additional 439,638 shares during the last quarter. Morgan Stanley increased its position in shares of Alphabet by 4.6% during the 1st quarter. Morgan Stanley now owns 2,573,124 shares of the information services provider’s stock valued at $2,989,841,000 after purchasing an additional 114,032 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Alphabet by 8.7% during the 1st quarter. Capital International Investors now owns 1,765,272 shares of the information services provider’s stock valued at $2,051,158,000 after purchasing an additional 141,777 shares during the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.

GOOGL has been the subject of several research reports. Moffett Nathanson upped their price target on shares of Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Tigress Financial reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, August 25th. SunTrust Banks upped their price target on shares of Alphabet from $1,805.00 to $1,850.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wedbush upped their price target on shares of Alphabet from $1,550.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, KeyCorp began coverage on shares of Alphabet in a research report on Monday, September 14th. They set an “overweight” rating and a $1,955.00 price target for the company. Four analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $1,679.91.

GOOGL opened at $1,567.70 on Friday. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $1,519.73 and its 200-day simple moving average is $1,433.08. The company has a market capitalization of $1,066.29 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.14 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. On average, equities research analysts predict that Alphabet Inc will post 44.87 EPS for the current year.

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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