Mountain Capital Investment Advisors Inc Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Mountain Capital Investment Advisors Inc cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 480 shares of the information services provider’s stock after selling 12 shares during the period. Mountain Capital Investment Advisors Inc’s holdings in Alphabet were worth $843,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. HT Partners LLC grew its position in shares of Alphabet by 2.5% during the 4th quarter. HT Partners LLC now owns 447 shares of the information services provider’s stock valued at $783,000 after acquiring an additional 11 shares during the period. Global Trust Asset Management LLC grew its position in shares of Alphabet by 21.1% during the 4th quarter. Global Trust Asset Management LLC now owns 138 shares of the information services provider’s stock valued at $242,000 after acquiring an additional 24 shares during the period. Arlington Partners LLC grew its position in shares of Alphabet by 3.6% during the 4th quarter. Arlington Partners LLC now owns 1,283 shares of the information services provider’s stock valued at $2,249,000 after acquiring an additional 45 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Alphabet by 29.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 7,672 shares of the information services provider’s stock valued at $13,446,000 after acquiring an additional 1,759 shares during the period. Finally, Xcel Wealth Management LLC grew its position in shares of Alphabet by 1.2% during the 4th quarter. Xcel Wealth Management LLC now owns 3,435 shares of the information services provider’s stock valued at $6,020,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 30.53% of the company’s stock.

Shares of NASDAQ GOOGL opened at $1,747.25 on Thursday. The firm has a market cap of $1.18 trillion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $1,008.87 and a 52-week high of $1,843.83. The business’s 50 day moving average is $1,765.00 and its two-hundred day moving average is $1,609.47.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.35 by $5.05. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $38.01 billion for the quarter, compared to analyst estimates of $35.36 billion. Analysts anticipate that Alphabet Inc. will post 51.54 EPS for the current fiscal year.

GOOGL has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Alphabet in a report on Wednesday, December 23rd. They issued a “buy” rating and a $2,250.00 price objective on the stock. Credit Suisse Group lifted their price objective on Alphabet from $1,850.00 to $1,950.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Robert W. Baird lifted their price objective on Alphabet to $2,000.00 in a report on Thursday, December 31st. Moffett Nathanson lifted their price objective on Alphabet from $1,650.00 to $1,850.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Finally, KeyCorp lifted their price objective on Alphabet from $1,955.00 to $1,970.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Three analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,818.29.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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