Reinhart Partners Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 473 shares of the company’s stock after selling 42 shares during the period. Reinhart Partners Inc.’s holdings in Alphabet were worth $333,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. SevenBridge Financial Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $120,000. Cacti Asset Management LLC purchased a new stake in shares of Alphabet during the second quarter valued at about $162,000. Founders Capital Management LLC purchased a new stake in shares of Alphabet during the second quarter valued at about $196,000. Wrapmanager Inc. purchased a new stake in shares of Alphabet during the first quarter valued at about $220,000. Finally, Stewart & Patten Co. LLC raised its stake in shares of Alphabet by 10.6% in the second quarter. Stewart & Patten Co. LLC now owns 364 shares of the company’s stock valued at $256,000 after buying an additional 35 shares in the last quarter. 34.12% of the stock is currently owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.18% during trading on Friday, reaching $804.06. 1,660,201 shares of the company’s stock were exchanged. Alphabet Inc. has a 12-month low of $654.49 and a 12-month high of $819.06. The company has a 50 day moving average of $800.15 and a 200 day moving average of $758.17. The stock has a market cap of $552.61 billion, a P/E ratio of 31.15 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities research analysts anticipate that Alphabet Inc. will post $34.26 EPS for the current year.
Several equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a report on Saturday, June 4th. Pacific Crest restated a “buy” rating on shares of Alphabet in a report on Wednesday, June 22nd. Evercore ISI restated a “buy” rating and issued a $830.00 target price (down from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Citigroup Inc. restated a “buy” rating and issued a $900.00 target price on shares of Alphabet in a report on Friday, June 17th. Finally, Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $815.96 target price for the company. in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have issued a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $924.78.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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