United Asset Strategies Inc. Reduces Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

United Asset Strategies Inc. reduced its stake in Alphabet Inc (NASDAQ:GOOGL) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,618 shares of the information services provider’s stock after selling 728 shares during the period. Alphabet accounts for about 1.9% of United Asset Strategies Inc.’s holdings, making the stock its 13th biggest position. United Asset Strategies Inc.’s holdings in Alphabet were worth $7,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. Bank OZK increased its stake in Alphabet by 2.7% in the fourth quarter. Bank OZK now owns 1,642 shares of the information services provider’s stock valued at $2,199,000 after purchasing an additional 43 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in Alphabet by 23.8% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 159,195 shares of the information services provider’s stock valued at $213,237,000 after purchasing an additional 30,567 shares during the last quarter. Tompkins Financial Corp increased its stake in Alphabet by 4.2% in the fourth quarter. Tompkins Financial Corp now owns 2,679 shares of the information services provider’s stock valued at $3,589,000 after purchasing an additional 108 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Alphabet by 23.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 234 shares of the information services provider’s stock worth $313,000 after acquiring an additional 45 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in shares of Alphabet by 34.1% during the fourth quarter. Leavell Investment Management Inc. now owns 1,850 shares of the information services provider’s stock worth $2,478,000 after acquiring an additional 470 shares during the last quarter. Institutional investors own 34.29% of the company’s stock.

A number of brokerages have recently issued reports on GOOGL. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. JMP Securities raised their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and set a $1,550.00 target price (up from $1,400.00) on shares of Alphabet in a research report on Wednesday, April 29th. SunTrust Banks raised their target price on shares of Alphabet from $1,350.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. They noted that the move was a valuation call. Finally, Independent Research upgraded shares of Alphabet to a “buy” rating and set a $1,520.00 target price on the stock in a research report on Friday, March 13th. Four equities research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $1,505.34.

Alphabet stock opened at $1,413.24 on Friday. The stock has a market cap of $960.27 billion, a PE ratio of 28.52, a P/E/G ratio of 2.11 and a beta of 1.06. The stock has a 50-day moving average price of $1,281.39 and a 200 day moving average price of $1,330.33. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,530.74. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The company had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same quarter in the prior year, the business posted $9.50 EPS. On average, equities analysts predict that Alphabet Inc will post 41.47 EPS for the current year.

Alphabet 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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