Bartlett & Co. LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bartlett & Co. LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the third quarter, Holdings Channel reports. The institutional investor owned 21,482 shares of the information services provider’s stock after selling 499 shares during the quarter. Bartlett & Co. LLC’s holdings in Alphabet were worth $57,433,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Bard Financial Services Inc. grew its position in shares of Alphabet by 0.8% in the 3rd quarter. Bard Financial Services Inc. now owns 2,990 shares of the information services provider’s stock worth $7,994,000 after buying an additional 25 shares during the period. Pacer Advisors Inc. grew its position in shares of Alphabet by 0.6% in the 3rd quarter. Pacer Advisors Inc. now owns 22,129 shares of the information services provider’s stock worth $59,162,000 after buying an additional 132 shares during the period. Willis Johnson & Associates Inc. grew its position in Alphabet by 84.3% during the 3rd quarter. Willis Johnson & Associates Inc. now owns 153 shares of the information services provider’s stock valued at $409,000 after purchasing an additional 70 shares during the last quarter. Vishria Bird Financial Group LLC grew its position in Alphabet by 0.7% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 2,594 shares of the information services provider’s stock valued at $6,935,000 after purchasing an additional 19 shares during the last quarter. Finally, Bangor Savings Bank grew its position in Alphabet by 1.2% during the 3rd quarter. Bangor Savings Bank now owns 1,667 shares of the information services provider’s stock valued at $4,457,000 after purchasing an additional 19 shares during the last quarter. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ GOOGL opened at $2,843.66 on Friday. Alphabet Inc. has a 12 month low of $1,694.00 and a 12 month high of $3,019.33. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.05 and a beta of 1.04. The company’s 50 day moving average is $2,851.74 and its two-hundred day moving average is $2,676.82. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. During the same quarter in the previous year, the business posted $16.40 EPS. Sell-side analysts forecast that Alphabet Inc. will post 107.86 EPS for the current year.

Several analysts recently commented on GOOGL shares. BMO Capital Markets increased their price objective on shares of Alphabet from $3,000.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. Credit Suisse Group increased their price objective on shares of Alphabet from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. Barclays increased their price objective on shares of Alphabet from $3,200.00 to $3,300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 27th. Monness Crespi & Hardt increased their price objective on shares of Alphabet from $3,500.00 to $3,660.00 and gave the company a “buy” rating in a research report on Wednesday, October 27th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $3,400.00 price objective (up from $3,100.00) on shares of Alphabet in a research report on Wednesday, October 27th. Four investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3,156.15.

About Alphabet

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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