Alphabet Inc (GOOGL) Stake Lessened by Bray Capital Advisors

Bray Capital Advisors cut its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,696 shares of the information services provider’s stock after selling 119 shares during the period. Alphabet accounts for approximately 1.9% of Bray Capital Advisors’ investment portfolio, making the stock its 12th biggest holding. Bray Capital Advisors’ holdings in Alphabet were worth $3,598,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Stillwater Investment Management LLC boosted its holdings in Alphabet by 1.2% in the second quarter. Stillwater Investment Management LLC now owns 2,384 shares of the information services provider’s stock valued at $2,216,000 after purchasing an additional 28 shares during the last quarter. Pioneer Trust Bank N A OR boosted its holdings in Alphabet by 1.7% in the second quarter. Pioneer Trust Bank N A OR now owns 2,829 shares of the information services provider’s stock valued at $2,630,000 after purchasing an additional 46 shares during the last quarter. Catawba Capital Management VA boosted its holdings in Alphabet by 4.6% in the second quarter. Catawba Capital Management VA now owns 7,099 shares of the information services provider’s stock valued at $6,600,000 after purchasing an additional 313 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Alphabet by 0.5% in the second quarter. Xact Kapitalforvaltning AB now owns 49,519 shares of the information services provider’s stock valued at $46,037,000 after purchasing an additional 258 shares during the last quarter. Finally, Centre Asset Management LLC boosted its holdings in Alphabet by 2.6% in the second quarter. Centre Asset Management LLC now owns 12,740 shares of the information services provider’s stock valued at $11,844,000 after purchasing an additional 320 shares during the last quarter. 33.55% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Inc (NASDAQ:GOOGL) opened at $1,130.65 on Friday. Alphabet Inc has a 1 year low of $812.05 and a 1 year high of $1,131.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market cap of $783,260.00, a PE ratio of 37.66, a P/E/G ratio of 1.45 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same quarter in the prior year, the firm earned $9.06 EPS. analysts forecast that Alphabet Inc will post 32.34 earnings per share for the current year.

Several equities research analysts have commented on GOOGL shares. Goldman Sachs Group upped their price target on shares of Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. Citigroup reaffirmed a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a report on Wednesday, September 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Thursday, September 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,100.06.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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