BlueMountain Capital Management LLC Has $7.08 Million Position in Alphabet Inc (GOOGL)

BlueMountain Capital Management LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 14.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,268 shares of the information services provider’s stock after selling 1,092 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Alphabet were worth $7,078,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Burney Co. increased its holdings in Alphabet by 7.6% during the 2nd quarter. Burney Co. now owns 18,628 shares of the information services provider’s stock valued at $21,035,000 after purchasing an additional 1,319 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in Alphabet during the 2nd quarter valued at $260,000. Arlington Financial Advisors LLC increased its holdings in Alphabet by 30.6% during the 2nd quarter. Arlington Financial Advisors LLC now owns 1,618 shares of the information services provider’s stock valued at $1,986,000 after purchasing an additional 379 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Alphabet by 11.6% during the 2nd quarter. Global Retirement Partners LLC now owns 2,221 shares of the information services provider’s stock valued at $2,508,000 after purchasing an additional 230 shares in the last quarter. Finally, Advisors Capital Management LLC increased its holdings in Alphabet by 7.1% during the 2nd quarter. Advisors Capital Management LLC now owns 707 shares of the information services provider’s stock valued at $798,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 30.54% of the company’s stock.

NASDAQ GOOGL opened at $1,078.08 on Friday. The firm has a market capitalization of $739.35 billion, a PE ratio of 33.64, a PEG ratio of 1.31 and a beta of 1.06. Alphabet Inc has a 52 week low of $984.00 and a 52 week high of $1,291.44. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.



Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $10.54 by $2.52. The company had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. As a group, equities research analysts expect that Alphabet Inc will post 45.02 EPS for the current year.

A number of equities research analysts recently weighed in on the company. Guggenheim assumed coverage on Alphabet in a report on Thursday. They set a “buy” rating and a $1,330.00 price target for the company. Monness Crespi & Hardt dropped their price target on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating for the company in a report on Friday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,450.00 price target on shares of Alphabet in a report on Tuesday, August 21st. Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, Wedbush assumed coverage on Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,330.16.

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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.

Further Reading: Institutional Investors

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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