Crossvault Capital Management LLC Has $7.66 Million Stock Position in Alphabet Inc (NASDAQ:GOOGL)

Crossvault Capital Management LLC cut its position in Alphabet Inc (NASDAQ:GOOGL) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,404 shares of the information services provider’s stock after selling 99 shares during the period. Alphabet makes up about 3.6% of Crossvault Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Crossvault Capital Management LLC’s holdings in Alphabet were worth $7,663,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Scharf Investments LLC grew its stake in shares of Alphabet by 2.7% in the second quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock valued at $380,000 after buying an additional 7 shares in the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares during the last quarter. CVA Family Office LLC lifted its holdings in Alphabet by 11.7% during the 2nd quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock valued at $95,000 after purchasing an additional 7 shares during the last quarter. Droms Strauss Advisors Inc. MO ADV lifted its holdings in Alphabet by 3.4% during the 1st quarter. Droms Strauss Advisors Inc. MO ADV now owns 246 shares of the information services provider’s stock valued at $286,000 after purchasing an additional 8 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Alphabet by 4.8% during the 1st quarter. Apollon Wealth Management LLC now owns 173 shares of the information services provider’s stock valued at $201,000 after purchasing an additional 8 shares during the last quarter. 34.14% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet stock traded up $10.74 during midday trading on Thursday, reaching $1,517.98. The company had a trading volume of 63,458 shares, compared to its average volume of 2,196,840. The stock has a fifty day moving average price of $1,488.79 and a 200 day moving average price of $1,377.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.40. The firm has a market cap of $1,025.17 billion, a PE ratio of 33.61, a P/E/G ratio of 2.05 and a beta of 1.04. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,587.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, sell-side analysts forecast that Alphabet Inc will post 44.74 EPS for the current year.

A number of research firms have recently weighed in on GOOGL. SunTrust Banks lifted their target price on Alphabet from $1,805.00 to $1,850.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Morgan Stanley boosted their price target on Alphabet from $1,700.00 to $1,760.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and boosted their price target for the company from $1,550.00 to $1,600.00 in a research note on Friday, July 31st. Nomura boosted their price target on Alphabet from $1,680.00 to $1,700.00 in a research note on Wednesday, April 29th. Finally, Mizuho boosted their price target on Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,662.16.

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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