Alphabet Inc. (GOOGL) Stake Decreased by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 7,433 shares of the information services provider’s stock after selling 96 shares during the quarter. Alphabet comprises about 1.0% of Bowling Portfolio Management LLC’s portfolio, making the stock its 13th biggest holding. Bowling Portfolio Management LLC’s holdings in Alphabet were worth $6,910,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Arthur M. Cohen & Associates LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $574,000. Hanson & Doremus Investment Management lifted its position in shares of Alphabet by 3.0% during the 2nd quarter. Hanson & Doremus Investment Management now owns 237 shares of the information services provider’s stock valued at $220,000 after acquiring an additional 7 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of Alphabet by 2.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,010 shares of the information services provider’s stock valued at $12,095,000 after acquiring an additional 350 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Alphabet by 1.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 466,073 shares of the information services provider’s stock worth $433,299,000 after buying an additional 5,587 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Alphabet by 4.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,047 shares of the information services provider’s stock worth $973,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 33.85% of the company’s stock.

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A number of research firms have recently commented on GOOGL. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. boosted their price target on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reissued a “buy” rating and set a $1,080.00 price target (up previously from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and set a $1,060.00 price target (down previously from $1,065.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,058.31.

Shares of Alphabet Inc. (GOOGL) opened at 1005.65 on Thursday. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The company’s 50 day moving average price is $953.18 and its 200-day moving average price is $940.96. The stock has a market capitalization of $696.79 billion, a P/E ratio of 36.45 and a beta of 0.96.

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

Alphabet 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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