Ridgewood Investments LLC decreased its holdings in Alphabet Inc (NASDAQ:GOOGL) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 917 shares of the information services provider’s stock after selling 182 shares during the period. Alphabet comprises 1.1% of Ridgewood Investments LLC’s portfolio, making the stock its 17th largest holding. Ridgewood Investments LLC’s holdings in Alphabet were worth $1,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Virtus Alternative Investment Advisers Inc. acquired a new stake in Alphabet during the second quarter valued at $45,000. Cedar Mountain Advisors LLC raised its stake 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 worth $47,000 after purchasing an additional 7 shares in the last quarter. Watson Rebecca acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $60,000. CVA Family Office LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $70,000. Finally, Virtus ETF Advisers LLC acquired a new position in Alphabet in the second quarter worth approximately $84,000. 33.78% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on GOOGL shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $2,020.00 target price (up from $1,975.00) on shares of Alphabet in a research note on Monday, October 12th. MKM Partners lifted their price objective on shares of Alphabet from $1,500.00 to $1,700.00 in a research note on Monday, July 27th. Wedbush increased their target price on shares of Alphabet from $1,550.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. 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 research report on Friday, July 31st. Finally, BofA Securities upped their price target on Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research note 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’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,679.91.

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

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the Thomson Reuters’ 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%. Research analysts expect that Alphabet Inc will post 44.87 EPS for the current fiscal year.

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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