Meritage Portfolio Management Has $20.05 Million Stake in Alphabet Inc. (GOOGL)

Meritage Portfolio Management trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,566 shares of the information services provider’s stock after selling 551 shares during the quarter. Alphabet accounts for 2.1% of Meritage Portfolio Management’s portfolio, making the stock its 2nd largest holding. Meritage Portfolio Management’s holdings in Alphabet were worth $20,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. State of Alaska Department of Revenue bought a new stake in shares of Alphabet in the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $108,000. Delta Asset Management LLC TN boosted its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the period. Farmers National Bank boosted its position in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 56 shares during the period. 33.85% of the stock is owned by institutional investors.

Several research firms have recently weighed in on GOOGL. B. Riley reissued a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Sunday, July 30th. MKM Partners reaffirmed a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 target price for the company in a research report on Monday, July 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,054.01.

Alphabet Inc. (NASDAQ:GOOGL) traded down 0.45% during trading on Friday, hitting $943.26. The stock had a trading volume of 1,168,671 shares. The stock has a 50 day moving average of $939.49 and a 200 day moving average of $928.76. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The firm has a market capitalization of $281.13 billion, a P/E ratio of 41.30 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the company earned $8.42 EPS. Equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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