Eagle Ridge Investment Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 7,484 shares of the company’s stock after selling 7 shares during the period. Eagle Ridge Investment Management’s holdings in Alphabet were worth $5,265,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC bought a new stake in Alphabet during the first quarter worth $120,000. Peoples Financial Services CORP. boosted its stake in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Cacti Asset Management LLC bought a new stake in Alphabet during the second quarter worth $162,000. Founders Capital Management LLC bought a new stake in Alphabet during the second quarter worth $196,000. Finally, Oakworth Capital Inc. boosted its stake in Alphabet by 4.9% in the second quarter. Oakworth Capital Inc. now owns 277 shares of the company’s stock worth $207,000 after buying an additional 13 shares during the last quarter. 34.12% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.30% during midday trading on Friday, hitting $800.71. The company had a trading volume of 1,163,899 shares. The company’s 50 day moving average is $799.75 and its 200-day moving average is $759.77. The company has a market cap of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00. Alphabet Inc. has a one year low of $667.24 and a one year high of $819.06.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities analysts predict that Alphabet Inc. will post $34.11 EPS for the current year.
A number of research firms have weighed in on GOOGL. Mizuho reissued a “buy” rating and set a $1,020.00 price objective (up previously from $1,010.00) on shares of Alphabet in a report on Sunday, July 31st. Bank of America Corp. restated a “buy” rating and set a $960.00 target price on shares of Alphabet in a research report on Monday, September 26th. Macquarie restated an “outperform” rating on shares of Alphabet in a research report on Tuesday, July 19th. Evercore ISI restated a “buy” rating and set a $830.00 target price on shares of Alphabet in a research report on Tuesday, July 26th. Finally, JMP Securities raised their target price on shares of Alphabet from $904.00 to $928.00 and gave the stock a “market outperform” rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $926.06.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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