Blume Capital Management Inc. Has $1.29 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Blume Capital Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 530 shares of the information services provider’s stock after selling 19 shares during the quarter. Blume Capital Management Inc.’s holdings in Alphabet were worth $1,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Planning LLC acquired a new position in Alphabet during the 2nd quarter worth about $27,000. Sage Financial Management Group Inc. acquired a new position in Alphabet during the 1st quarter worth about $56,000. Harvest Group Wealth Management LLC acquired a new position in Alphabet during the 2nd quarter worth about $66,000. DB Wealth Management Group LLC lifted its holdings in Alphabet by 18.9% during the 1st quarter. DB Wealth Management Group LLC now owns 44 shares of the information services provider’s stock worth $91,000 after buying an additional 7 shares during the period. Finally, BigSur Wealth Management LLC lifted its holdings in Alphabet by 80.0% during the 1st quarter. BigSur Wealth Management LLC now owns 45 shares of the information services provider’s stock worth $93,000 after buying an additional 20 shares during the period. 34.43% of the stock is currently owned by institutional investors.

Several brokerages have commented on GOOGL. Morgan Stanley lifted their target price on Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. JMP Securities lifted their price objective on Alphabet from $2,850.00 to $3,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Stifel Nicolaus lifted their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, Truist Securities lifted their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $2,841.72.

Shares of NASDAQ GOOGL traded down $13.20 during midday trading on Wednesday, reaching $2,837.69. The company’s stock had a trading volume of 18,485 shares, compared to its average volume of 1,521,662. Alphabet Inc. has a 12-month low of $1,402.15 and a 12-month high of $2,925.07. The firm has a 50 day moving average price of $2,721.31 and a 200-day moving average price of $2,428.14. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 30.90, a PEG ratio of 1.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The firm had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. During the same quarter in the previous year, the business earned $10.13 EPS. On average, equities analysts predict that Alphabet Inc. will post 101.86 EPS for the current year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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