SOL Capital Management CO lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 313 shares of the information services provider’s stock after selling 50 shares during the period. SOL Capital Management CO’s holdings in Alphabet were worth $382,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of GOOGL. Litman Gregory Asset Management LLC bought a new position in Alphabet in the 2nd quarter worth approximately $37,000. Garrett Wealth Advisory Group LLC bought a new position in Alphabet in the 3rd quarter worth approximately $39,000. Lipe & Dalton bought a new position in Alphabet in the 2nd quarter worth approximately $49,000. Johnson Financial Group Inc. boosted its holdings in Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after buying an additional 10 shares during the period. Finally, Vista Private Wealth Partners. LLC bought a new position in Alphabet in the 3rd quarter worth approximately $60,000. Institutional investors own 33.53% of the company’s stock.
GOOGL has been the subject of several analyst reports. Nomura reissued a “buy” rating and issued a $1,400.00 price target (up from $1,300.00) on shares of Alphabet in a report on Friday, July 26th. FBN Securities set a $1,400.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. SunTrust Banks reissued a “buy” rating and issued a $1,325.00 price target on shares of Alphabet in a report on Monday, July 22nd. KeyCorp reissued an “overweight” rating and issued a $1,516.00 price target (up from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,375.78.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. On average, sell-side analysts predict that Alphabet Inc will post 51.22 earnings per share for the current year.
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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