Regent Investment Management LLC Reduces Position in Alphabet Inc (NASDAQ:GOOGL)

Regent Investment Management LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,768 shares of the information services provider’s stock after selling 50 shares during the period. Regent Investment Management LLC’s holdings in Alphabet were worth $2,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GOOGL. Belvedere Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at $38,000. Thor Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at $45,000. Lavaca Capital LLC bought a new stake in Alphabet in the 4th quarter valued at $97,000. Quantamental Technologies LLC bought a new stake in Alphabet in the 4th quarter valued at $103,000. Finally, Private Ocean LLC increased its holdings in Alphabet by 26.7% in the 4th quarter. Private Ocean LLC now owns 114 shares of the information services provider’s stock valued at $119,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 33.93% of the company’s stock.

Shares of GOOGL stock traded up $2.01 during trading hours on Wednesday, reaching $1,230.01. 753,003 shares of the stock were exchanged, compared to its average volume of 1,513,268. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The stock’s 50-day moving average is $1,129.41. The company has a market cap of $851.37 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Equities research analysts anticipate that Alphabet Inc will post 51.12 earnings per share for the current fiscal year.

A number of analysts have issued reports on GOOGL shares. BMO Capital Markets set a $216.00 price target on shares of Stryker and gave the company a “hold” rating in a report on Friday, July 26th. Needham & Company LLC set a $1,350.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, July 8th. Morgan Stanley set a $112.00 price target on shares of Tractor Supply and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upgraded shares of Medical Properties Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $18.00 to $19.00 in a report on Tuesday, July 23rd. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,368.76.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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