Meyer Handelman Co. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,955 shares of the company’s stock after selling 301 shares during the period. Meyer Handelman Co.’s holdings in Alphabet were worth $4,894,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. increased its position in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Cacti Asset Management LLC acquired a new stake in shares of Alphabet during the second quarter worth $162,000. Oakworth Capital Inc. boosted its stake in shares of Alphabet by 4.9% in the second quarter. Oakworth Capital Inc. now owns 277 shares of the company’s stock worth $207,000 after buying an additional 13 shares during the period. Founders Capital Management LLC acquired a new stake in shares of Alphabet during the second quarter worth $196,000. Finally, Wrapmanager Inc. acquired a new stake in shares of Alphabet during the first quarter worth $220,000. 34.12% of the stock is owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.30% during midday trading on Friday, hitting $800.71. 1,163,899 shares of the stock traded hands. Alphabet Inc. has a 12-month low of $667.24 and a 12-month high of $819.06. The company’s 50-day moving average is $799.75 and its 200 day moving average is $759.77. The firm has a market cap of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, analysts anticipate that Alphabet Inc. will post $34.11 EPS for the current fiscal year.
GOOGL has been the topic of a number of recent research reports. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $833.54 price objective on the stock in a report on Monday, June 13th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Alphabet in a report on Monday, June 13th. Citigroup Inc. restated a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a report on Friday, June 17th. Evercore ISI restated a “buy” rating and issued a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Finally, Pacific Crest restated a “buy” rating on shares of Alphabet in a report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $926.06.
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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