Appleton Partners Inc. MA Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Appleton Partners Inc. MA lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,776 shares of the information services provider’s stock after selling 120 shares during the quarter. Appleton Partners Inc. MA’s holdings in Alphabet were worth $10,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resonant Capital Advisors LLC raised its position in shares of Alphabet by 1.5% during the 2nd quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock worth $657,000 after acquiring an additional 4 shares in the last quarter. Allied Investment Advisors LLC increased its position in Alphabet by 3.5% during the second quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock worth $291,000 after buying an additional 4 shares during the period. Capital Investment Counsel Inc increased its position in Alphabet by 0.3% during the second quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock worth $3,372,000 after buying an additional 4 shares during the period. New Potomac Partners LLC increased its position in Alphabet by 2.3% during the second quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock worth $430,000 after buying an additional 4 shares during the period. Finally, Atlas Private Wealth Advisors increased its position in Alphabet by 2.9% during the second quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock worth $352,000 after buying an additional 4 shares during the period. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOGL traded up $6.76 during trading hours on Thursday, hitting $2,922.40. 900,854 shares of the company were exchanged, compared to its average volume of 1,534,131. The company has a market capitalization of $1.94 trillion, a PE ratio of 28.14, a PEG ratio of 1.07 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. The firm has a fifty day simple moving average of $2,850.18 and a 200-day simple moving average of $2,668.40. Alphabet Inc. has a one year low of $1,694.00 and a one year high of $3,019.33.

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

Several analysts have recently issued reports on GOOGL shares. Wedbush upped their price objective on Alphabet from $3,424.00 to $3,530.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. Raymond James upped their price target on Alphabet from $3,200.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Argus upped their price target on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Truist upped their target price on Alphabet from $3,100.00 to $3,400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 27th. Finally, JMP Securities upped their target price on Alphabet from $3,100.00 to $3,300.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 27th. Four research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $3,156.15.

Alphabet Company 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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