Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Private Portfolio Partners LLC

Private Portfolio Partners LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 653 shares of the information services provider’s stock after selling 12 shares during the period. Private Portfolio Partners LLC’s holdings in Alphabet were worth $1,594,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Day & Ennis LLC boosted its position in Alphabet by 20.3% in the 2nd quarter. Day & Ennis LLC now owns 207 shares of the information services provider’s stock worth $505,000 after purchasing an additional 35 shares in the last quarter. Prentice Wealth Management LLC boosted its position in Alphabet by 15.4% in the 2nd quarter. Prentice Wealth Management LLC now owns 225 shares of the information services provider’s stock worth $549,000 after purchasing an additional 30 shares in the last quarter. Mackenzie Financial Corp boosted its position in Alphabet by 16.8% in the 2nd quarter. Mackenzie Financial Corp now owns 390,392 shares of the information services provider’s stock worth $953,255,000 after purchasing an additional 56,143 shares in the last quarter. Financial Network Wealth Management LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $208,000. Finally, Nicolet Bankshares Inc. boosted its position in Alphabet by 8.8% in the 2nd quarter. Nicolet Bankshares Inc. now owns 936 shares of the information services provider’s stock worth $2,286,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

GOOGL has been the topic of several recent research reports. BMO Capital Markets upped their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. The Goldman Sachs Group started coverage on Alphabet in a research report on Monday, September 13th. They set a “buy” rating and a $3,350.00 target price on the stock. Argus increased their target price on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Canaccord Genuity increased their target price on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, KGI Securities started coverage on Alphabet in a research report on Wednesday, June 2nd. They set an “outperform” rating and a $3,000.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2,846.21.

NASDAQ GOOGL traded up $1.43 on Tuesday, reaching $2,775.82. The company had a trading volume of 15,584 shares, compared to its average volume of 1,530,552. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. 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 company’s fifty day moving average is $2,746.73 and its 200-day moving average is $2,450.48.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The business had revenue of $50.95 billion during 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 last year, the business posted $10.13 EPS. On average, research analysts forecast that Alphabet Inc. will post 101.86 earnings per share for the current year.

Alphabet Company 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: Day Trading – Risk Worth the Reward?

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.