Alphabet Inc Class A (NASDAQ:GOOGL) Position Lowered by Welch & Forbes LLC

Welch & Forbes LLC reduced its stake in Alphabet Inc Class A (NASDAQ:GOOGL) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,660 shares of the information services provider’s stock after selling 342 shares during the period. Welch & Forbes LLC’s holdings in Alphabet Inc Class A were worth $31,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Rathbone Brothers plc grew its stake in shares of Alphabet Inc Class A by 29.5% in the 2nd quarter. Rathbone Brothers plc now owns 54,364 shares of the information services provider’s stock valued at $61,387,000 after purchasing an additional 12,377 shares during the period. TRUE Private Wealth Advisors boosted its holdings in shares of Alphabet Inc Class A by 55.8% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,488 shares of the information services provider’s stock worth $2,809,000 after acquiring an additional 891 shares in the last quarter. Atria Investments LLC boosted its holdings in shares of Alphabet Inc Class A by 10.6% in the 2nd quarter. Atria Investments LLC now owns 4,952 shares of the information services provider’s stock worth $5,592,000 after acquiring an additional 474 shares in the last quarter. LGT Capital Partners LTD. boosted its holdings in shares of Alphabet Inc Class A by 3.3% in the 2nd quarter. LGT Capital Partners LTD. now owns 45,997 shares of the information services provider’s stock worth $51,939,000 after acquiring an additional 1,452 shares in the last quarter. Finally, Legacy Private Trust Co. boosted its holdings in shares of Alphabet Inc Class A by 5.1% in the 2nd quarter. Legacy Private Trust Co. now owns 3,716 shares of the information services provider’s stock worth $4,196,000 after acquiring an additional 179 shares in the last quarter. Institutional investors own 33.53% of the company’s stock.

Several research analysts have recently commented on GOOGL shares. Morgan Stanley reissued an “overweight” rating and issued a $1,250.00 target price (up from $1,200.00) on shares of Alphabet Inc Class A in a report on Thursday, June 28th. Zacks Investment Research downgraded Alphabet Inc Class A from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. ValuEngine raised Alphabet Inc Class A from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Nomura assumed coverage on Alphabet Inc Class A in a report on Tuesday, July 10th. They set a “buy” rating and a $1,400.00 price objective on the stock. Finally, Barclays upped their price objective on Alphabet Inc Class A from $1,250.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have given a buy rating to the company’s stock. Alphabet Inc Class A has a consensus rating of “Buy” and a consensus price target of $1,317.07.

Shares of Alphabet Inc Class A stock traded down $9.24 on Friday, hitting $1,167.83. 1,592,396 shares of the company’s stock traded hands, compared to its average volume of 1,988,305. The stock has a market capitalization of $840.06 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 1.53 and a beta of 1.11. Alphabet Inc Class A has a one year low of $977.08 and a one year high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15.

Alphabet Inc Class A (NASDAQ:GOOGL) last issued its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.51 by $2.24. The company had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. During the same quarter in the previous year, the company posted $5.01 EPS. As a group, research analysts forecast that Alphabet Inc Class A will post 42.53 EPS for the current fiscal year.

Alphabet Inc Class A 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.

Featured Article: What Factors Can Affect Return on Equity?

Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Inc Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc Class A and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply