Montag A & Associates Inc. Decreases Stake in Alphabet Inc (NASDAQ:GOOGL)

Montag A & Associates Inc. lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 0.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,751 shares of the information services provider’s stock after selling 13 shares during the period. Montag A & Associates Inc.’s holdings in Alphabet were worth $7,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Litman Gregory Asset Management LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $37,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $39,000. Lipe & Dalton acquired a new stake in shares of Alphabet during the 2nd quarter worth about $49,000. Johnson Financial Group Inc. increased its position in shares of Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after purchasing an additional 10 shares during the last quarter. Finally, Vista Private Wealth Partners. LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $60,000. Institutional investors own 33.56% of the company’s stock.

A number of brokerages recently issued reports on GOOGL. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,322.00 price objective for the company in a research report on Friday, October 25th. Jefferies Financial Group raised their price objective on Alphabet from $1,500.00 to $1,550.00 in a research report on Tuesday, October 29th. Guggenheim cut their price objective on Alphabet from $1,525.00 to $1,460.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Monness Crespi & Hardt set a $1,360.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Monday, October 21st. Seven analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,406.25.

NASDAQ GOOGL traded up $2.06 during trading on Friday, hitting $1,309.00. The stock had a trading volume of 1,519,600 shares, compared to its average volume of 1,555,468. The company has a market capitalization of $895.48 billion, a PE ratio of 27.55, a PEG ratio of 1.58 and a beta of 1.01. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $1,240.01 and a 200 day moving average price of $1,181.01. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,322.65.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same period in the prior year, the firm earned $13.06 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 49.05 earnings per share for the current year.

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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