Alphabet Inc. (NASDAQ:GOOGL) is Montag & Caldwell LLC’s Largest Position

Montag & Caldwell LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,727 shares of the information services provider’s stock after selling 1,729 shares during the period. Alphabet comprises about 5.9% of Montag & Caldwell LLC’s holdings, making the stock its biggest position. Montag & Caldwell LLC’s holdings in Alphabet were worth $65,261,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Covey Capital Advisors LLC increased its stake in shares of Alphabet by 1.9% in the first quarter. Covey Capital Advisors LLC now owns 2,189 shares of the information services provider’s stock worth $4,515,000 after purchasing an additional 40 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. increased its stake in shares of Alphabet by 314.3% in the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 58 shares of the information services provider’s stock worth $119,000 after purchasing an additional 44 shares in the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of Alphabet by 12.2% in the first quarter. Ironwood Wealth Management LLC. now owns 1,014 shares of the information services provider’s stock worth $2,091,000 after purchasing an additional 110 shares in the last quarter. Bull Street Advisors LLC increased its stake in shares of Alphabet by 0.9% in the first quarter. Bull Street Advisors LLC now owns 769 shares of the information services provider’s stock worth $1,586,000 after purchasing an additional 7 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of Alphabet in the first quarter worth about $1,776,000. Institutional investors and hedge funds own 34.43% of the company’s stock.

Shares of NASDAQ GOOGL traded up $19.64 during mid-day trading on Tuesday, hitting $2,794.03. The stock had a trading volume of 33,304 shares, compared to its average volume of 1,530,552. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. Alphabet Inc. has a 1 year low of $1,402.15 and a 1 year high of $2,925.07. The business has a 50 day moving average price of $2,746.73 and a two-hundred day moving average price of $2,450.48. The firm has a market cap of $1.86 trillion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping the consensus estimate of $19.89 by $7.37. The company had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same period in the previous year, the firm earned $10.13 earnings per share. Equities research analysts predict that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of Alphabet from $2,700.00 to $3,200.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Jefferies Financial Group raised their price objective on shares of Alphabet from $3,150.00 to $3,325.00 and gave the company a “buy” rating in a research report on Friday. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $2,875.00 to $3,250.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Credit Suisse Group raised their price objective on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Finally, Morgan Stanley raised their price objective on shares of Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $2,846.21.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Read More: Equity Income

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.