Stoneridge Investment Partners LLC Sells 1,626 Shares of Alphabet Inc (NASDAQ:GOOGL)

Stoneridge Investment Partners LLC lowered its holdings in Alphabet Inc (NASDAQ:GOOGL) by 18.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,393 shares of the information services provider’s stock after selling 1,626 shares during the quarter. Alphabet accounts for 2.8% of Stoneridge Investment Partners LLC’s holdings, making the stock its 4th biggest position. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $8,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Belvedere Advisors LLC bought a new position in shares of Alphabet in the 1st quarter valued at approximately $38,000. Thor Advisors LLC bought a new position in Alphabet in the 1st quarter worth approximately $45,000. Lipe & Dalton bought a new position in Alphabet in the 2nd quarter worth approximately $49,000. JJJ Advisors Inc. increased its position in shares of Alphabet by 204.8% during the second quarter. JJJ Advisors Inc. now owns 64 shares of the information services provider’s stock valued at $69,000 after purchasing an additional 43 shares during the period. Finally, Lavaca Capital LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $97,000. 33.94% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently commented on the company. JMP Securities boosted their price target on Alphabet to $1,450.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Raymond James set a $1,360.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. MKM Partners reaffirmed a “buy” rating and set a $1,450.00 price target on shares of Alphabet in a research note on Friday, August 2nd. Canaccord Genuity upped their price objective on Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Susquehanna Bancshares upped their price objective on Alphabet to $1,550.00 in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,371.05.

Shares of GOOGL traded down $17.29 during trading hours on Friday, reaching $1,188.90. 843,363 shares of the stock traded hands, compared to its average volume of 1,785,765. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97. The company’s 50-day simple moving average is $1,149.24. The company has a market capitalization of $836.37 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.33 and a beta of 0.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Equities research analysts expect that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.

Alphabet Profile

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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