ETRADE Capital Management LLC Sells 253 Shares of Alphabet Inc (NASDAQ:GOOGL)

ETRADE Capital Management LLC reduced its stake in Alphabet Inc (NASDAQ:GOOGL) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,032 shares of the information services provider’s stock after selling 253 shares during the period. ETRADE Capital Management LLC’s holdings in Alphabet were worth $9,332,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Stephenson National Bank & Trust bought a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Cox Capital Mgt LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $27,000. TFO TDC LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. BigSur Wealth Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $33,000. Finally, HighMark Wealth Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 34.29% of the company’s stock.

A number of equities analysts have recently issued reports on GOOGL shares. SunTrust Banks increased their price objective on shares of Alphabet from $1,350.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, April 24th. They noted that the move was a valuation call. Citigroup increased their target price on shares of Alphabet from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. MKM Partners increased their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nomura Instinet increased their target price on shares of Alphabet from $1,680.00 to $1,700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Mizuho increased their target price on shares of Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,505.34.

GOOGL stock opened at $1,413.24 on Friday. The firm has a market cap of $960.27 billion, a PE ratio of 28.52, a P/E/G ratio of 2.11 and a beta of 1.06. 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 firm’s fifty day moving average is $1,281.39 and its 200 day moving average is $1,330.33. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The firm had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter in the prior year, the business posted $9.50 EPS. Research analysts predict that Alphabet Inc will post 41.47 earnings per share for the current fiscal 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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