Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,652 shares of the information services provider’s stock after selling 29 shares during the quarter. Alphabet comprises approximately 2.1% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Alphabet were worth $6,476,000 at the end of the most recent quarter.

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

Shares of Alphabet stock traded down $3.20 during mid-day trading on Wednesday, hitting $2,847.69. The stock had a trading volume of 30,579 shares, compared to its average volume of 1,521,662. The firm has a 50-day moving average of $2,721.31 and a two-hundred day moving average of $2,428.14. Alphabet Inc. has a 12-month low of $1,402.15 and a 12-month high of $2,925.07. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.90 trillion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, beating the consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The business had revenue of $50.95 billion during the quarter, compared to analysts’ expectations of $46.07 billion. During the same quarter in the prior year, the company posted $10.13 EPS. Sell-side analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current year.

A number of research firms recently issued reports on GOOGL. Mizuho boosted their target price on shares of Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. KeyCorp boosted their target price on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Wedbush boosted their target price on shares of Alphabet from $3,127.00 to $3,424.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Canaccord Genuity boosted their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $2,841.72.

Alphabet 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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