CX Institutional Reduces Holdings in Alphabet Inc (NASDAQ:GOOGL)

CX Institutional trimmed its stake in Alphabet Inc (NASDAQ:GOOGL) by 32.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 402 shares of the information services provider’s stock after selling 195 shares during the period. CX Institutional’s holdings in Alphabet were worth $467,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Lenox Wealth Advisors LLC increased its stake in shares of Alphabet by 2.4% in the 4th quarter. Lenox Wealth Advisors LLC now owns 948 shares of the information services provider’s stock worth $1,270,000 after acquiring an additional 22 shares in the last quarter. Metropolis Capital Ltd increased its stake in shares of Alphabet by 18.2% in the 4th quarter. Metropolis Capital Ltd now owns 66,604 shares of the information services provider’s stock worth $89,209,000 after acquiring an additional 10,233 shares in the last quarter. Centric Wealth Management bought a new position in shares of Alphabet in the 4th quarter worth about $225,000. Sound Income Strategies LLC increased its stake in shares of Alphabet by 7.1% in the 4th quarter. Sound Income Strategies LLC now owns 181 shares of the information services provider’s stock worth $242,000 after acquiring an additional 12 shares in the last quarter. Finally, Anderson Hoagland & Co. increased its stake in shares of Alphabet by 1.1% in the 4th quarter. Anderson Hoagland & Co. now owns 1,173 shares of the information services provider’s stock worth $1,530,000 after acquiring an additional 13 shares in the last quarter. 35.07% of the stock is owned by hedge funds and other institutional investors.

GOOGL has been the subject of several research reports. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 price target for the company in a research note on Monday, April 20th. Citigroup raised their price objective on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company a “buy” rating in a research note on Friday, February 7th. SunTrust Banks raised their price objective on shares of Alphabet from $1,350.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, April 24th. They noted that the move was a valuation call. Independent Research upgraded shares of Alphabet to a “buy” rating and set a $1,520.00 price objective for the company in a research note on Friday, March 13th. Finally, Aegis raised their price objective on shares of Alphabet from $1,425.00 to $1,800.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1,505.23.

Shares of NASDAQ:GOOGL opened at $1,317.32 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.35. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74. The company has a market capitalization of $925.57 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.04 and a beta of 1.06. The firm’s 50 day simple moving average is $1,185.79 and its two-hundred day simple moving average is $1,318.66.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.16 by ($1.29). The firm had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.59%. During the same period in the prior year, the firm earned $9.50 EPS. On average, sell-side analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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