Clarus Wealth Advisors Sells 22 Shares of Alphabet Inc (NASDAQ:GOOGL)

Clarus Wealth Advisors decreased its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 383 shares of the information services provider’s stock after selling 22 shares during the quarter. Clarus Wealth Advisors’ holdings in Alphabet were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Creative Financial Designs Inc. ADV increased its stake in shares of Alphabet by 7.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 125 shares of the information services provider’s stock worth $140,000 after acquiring an additional 9 shares during the period. Copperwynd Financial LLC increased its stake in shares of Alphabet by 2.1% in the second quarter. Copperwynd Financial LLC now owns 448 shares of the information services provider’s stock worth $485,000 after acquiring an additional 9 shares during the period. Pensionmark Financial Group LLC increased its stake in shares of Alphabet by 4.5% in the second quarter. Pensionmark Financial Group LLC now owns 210 shares of the information services provider’s stock worth $251,000 after acquiring an additional 9 shares during the period. Cypress Capital Group increased its stake in shares of Alphabet by 1.0% in the third quarter. Cypress Capital Group now owns 874 shares of the information services provider’s stock worth $1,067,000 after acquiring an additional 9 shares during the period. Finally, Thomasville National Bank increased its stake in shares of Alphabet by 5.0% in the second quarter. Thomasville National Bank now owns 212 shares of the information services provider’s stock worth $230,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 33.50% of the company’s stock.

Shares of NASDAQ:GOOGL traded up $5.15 during midday trading on Friday, hitting $1,214.62. The company’s stock had a trading volume of 840,580 shares, compared to its average volume of 1,311,059. The business’s 50 day simple moving average is $1,206.08 and its 200 day simple moving average is $1,174.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The company has a market cap of $842.22 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. On average, sell-side analysts predict that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on GOOGL shares. Nomura reiterated a “buy” rating and issued a $1,400.00 price objective (up previously from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Cowen set a $1,500.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America set a $1,450.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, September 6th. Stifel Nicolaus reissued a “hold” rating and set a $1,287.00 price target on shares of Alphabet in a report on Tuesday, July 23rd. Finally, Wedbush increased their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $1,375.78.

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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