Tiedemann Advisors LLC trimmed its stake in Alphabet Inc (NASDAQ:GOOGL) by 23.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,019 shares of the information services provider’s stock after selling 4,190 shares during the quarter. Alphabet makes up about 0.8% of Tiedemann Advisors LLC’s portfolio, making the stock its 29th biggest holding. Tiedemann Advisors LLC’s holdings in Alphabet were worth $15,180,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of GOOGL. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. Belvedere Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $38,000. Thor Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $45,000. Lipe & Dalton acquired a new stake in shares of Alphabet in the second quarter valued at approximately $49,000. Finally, Johnson Financial Group Inc. lifted its position in shares of Alphabet by 26.3% in the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after buying an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 33.81% of the company’s stock.
A number of analysts have recently issued reports on GOOGL shares. Moffett Nathanson cut their price objective on Alphabet from $1,290.00 to $1,250.00 and set a “buy” rating for the company in a research report on Monday, June 24th. JMP Securities raised their price objective on Alphabet to $1,450.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. SunTrust Banks reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Alphabet in a research report on Monday, July 22nd. Needham & Company LLC set a $1,350.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price target for the company in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,373.76.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, analysts anticipate that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.
Alphabet Company 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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