Alpha Omega Wealth Management LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Alpha Omega Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,200 shares of the information services provider’s stock after selling 28 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $3,208,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Interstate Bank purchased a new position in Alphabet during the second quarter valued at approximately $8,822,000. Triumph Capital Management acquired a new stake in Alphabet in the second quarter valued at approximately $1,054,000. Charles Schwab Trust Co boosted its stake in Alphabet by 29.5% in the third quarter. Charles Schwab Trust Co now owns 518 shares of the information services provider’s stock valued at $1,385,000 after acquiring an additional 118 shares in the last quarter. Sargent Bickham Lagudis LLC boosted its stake in Alphabet by 1.7% in the second quarter. Sargent Bickham Lagudis LLC now owns 5,405 shares of the information services provider’s stock valued at $13,198,000 after acquiring an additional 92 shares in the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in Alphabet by 64.7% in the second quarter. Cornerstone Wealth Group LLC now owns 3,333 shares of the information services provider’s stock valued at $8,304,000 after acquiring an additional 1,309 shares in the last quarter. 34.30% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on GOOGL. Canaccord Genuity raised their target price on shares of Alphabet from $3,100.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. Truist raised their target price on shares of Alphabet from $3,100.00 to $3,400.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. Oppenheimer raised their target price on shares of Alphabet from $3,000.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. KeyCorp lifted their price objective on shares of Alphabet from $3,071.00 to $3,090.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 27th. Finally, Wedbush lifted their price objective on shares of Alphabet from $3,424.00 to $3,530.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Four research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $3,156.15.

GOOGL stock opened at $2,922.40 on Thursday. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 28.14, a P/E/G ratio of 1.07 and a beta of 1.04. The firm has a 50-day simple moving average of $2,850.18 and a 200-day simple moving average of $2,668.40. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $1,694.00 and a 52 week high of $3,019.33.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. During the same quarter in the previous year, the company earned $16.40 earnings per share. On average, analysts expect that Alphabet Inc. will post 107.86 earnings per share 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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