Alphabet Inc. (NASDAQ:GOOGL) Stake Lessened by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,636 shares of the information services provider’s stock after selling 2,855 shares during the period. Alphabet accounts for approximately 1.4% of Steward Partners Investment Advisory LLC’s investment portfolio, making the stock its 5th largest holding. Steward Partners Investment Advisory LLC’s holdings in Alphabet were worth $82,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. First Interstate Bank bought a new position in Alphabet in the 2nd quarter worth $8,822,000. Triumph Capital Management bought a new position in Alphabet in the 2nd quarter worth $1,054,000. Psagot Investment House Ltd. raised its holdings in Alphabet by 43.0% during the first quarter. Psagot Investment House Ltd. now owns 13,016 shares of the information services provider’s stock valued at $26,846,000 after acquiring an additional 3,917 shares during the period. Sargent Bickham Lagudis LLC raised its holdings in Alphabet by 1.7% during the second quarter. Sargent Bickham Lagudis LLC now owns 5,405 shares of the information services provider’s stock valued at $13,198,000 after acquiring an additional 92 shares during the period. Finally, Cornerstone Wealth Group LLC raised its holdings in Alphabet by 64.7% during the second quarter. Cornerstone Wealth Group LLC now owns 3,333 shares of the information services provider’s stock valued at $8,304,000 after acquiring an additional 1,309 shares during the period. Hedge funds and other institutional investors own 34.43% of the company’s stock.

NASDAQ:GOOGL opened at $2,813.00 on Monday. The company has a market cap of $1.88 trillion, a PE ratio of 30.65, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a twelve month low of $1,508.48 and a twelve month high of $2,925.07. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $2,797.33 and its two-hundred day moving average is $2,546.27.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping the consensus estimate of $19.89 by $7.37. The company had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same quarter in the previous year, the firm earned $10.13 EPS. As a group, analysts expect that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. Truist raised their price target on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Wedbush raised their price objective on Alphabet from $3,127.00 to $3,424.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Stifel Nicolaus raised their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. MKM Partners lifted their price target on Alphabet from $2,500.00 to $3,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, Susquehanna lifted their price target on Alphabet from $3,100.00 to $3,600.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $2,884.67.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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