WMS Partners LLC Trims Position in Alphabet Inc (NASDAQ:GOOGL)

WMS Partners LLC trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,121 shares of the information services provider’s stock after selling 239 shares during the quarter. Alphabet accounts for about 1.7% of WMS Partners LLC’s portfolio, making the stock its 10th largest position. WMS Partners LLC’s holdings in Alphabet were worth $5,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Bank OZK grew its stake in shares of Alphabet by 2.7% during the 4th quarter. Bank OZK now owns 1,642 shares of the information services provider’s stock valued at $2,199,000 after acquiring an additional 43 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of Alphabet by 23.8% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 159,195 shares of the information services provider’s stock worth $213,237,000 after acquiring an additional 30,567 shares in the last quarter. CFM Wealth Partners LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $7,326,000. Apollon Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $237,000. Finally, Putnam FL Investment Management Co. raised its holdings in Alphabet by 1.6% during the 4th quarter. Putnam FL Investment Management Co. now owns 29,918 shares of the information services provider’s stock valued at $40,072,000 after buying an additional 472 shares during the period. 34.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on GOOGL. Oppenheimer reissued a “buy” rating and set a $1,445.00 price target on shares of Alphabet in a research report on Wednesday, April 29th. Morgan Stanley raised their price objective on Alphabet from $1,310.00 to $1,400.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. MKM Partners increased their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Royal Bank of Canada increased their price target on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Citigroup increased their price target on Alphabet from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,510.46.

Shares of NASDAQ:GOOGL traded down $3.06 during trading on Wednesday, reaching $1,439.25. The stock had a trading volume of 1,384,406 shares, compared to its average volume of 1,676,941. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74. The stock has a market cap of $983.95 billion, a PE ratio of 29.09, a PEG ratio of 2.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The business has a fifty day moving average price of $1,340.56 and a 200-day moving average price of $1,337.46.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The company had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. During the same quarter in the previous year, the business posted $9.50 EPS. Sell-side analysts expect that Alphabet Inc will post 41.47 earnings per share for the current 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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