Alphabet Inc (NASDAQ:GOOGL) is Hoylecohen LLC’s 5th Largest Position

Hoylecohen LLC lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,703 shares of the information services provider’s stock after selling 87 shares during the period. Alphabet comprises 2.5% of Hoylecohen LLC’s holdings, making the stock its 5th biggest position. Hoylecohen LLC’s holdings in Alphabet were worth $15,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Spence Asset Management raised its stake in shares of Alphabet by 45.5% during the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake 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 in the last quarter. OmniStar Financial Group Inc. acquired a new position in Alphabet during the 1st quarter valued at approximately $44,000. Center for Financial Planning Inc. increased its stake in Alphabet by 35.5% during the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 11 shares in the last quarter. Finally, Watson Rebecca acquired a new position in Alphabet during the 2nd quarter valued at approximately $60,000. 34.14% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on GOOGL shares. Bank of America increased their price objective on shares of Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities increased their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Wells Fargo & Co reissued a “buy” rating and set a $1,750.00 price target (up from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Monness Crespi & Hardt increased their price target on shares of Alphabet from $1,420.00 to $1,700.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group raised shares of Alphabet to a “buy” rating in a report on Monday, July 13th. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1,657.51.

Shares of NASDAQ:GOOGL opened at $1,487.95 on Friday. The firm has a 50 day simple moving average of $1,473.93 and a 200-day simple moving average of $1,375.65. The company has a market capitalization of $1,050.12 billion, a PE ratio of 32.72, a P/E/G ratio of 2.35 and a beta of 1.06. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,587.05. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities research analysts predict that Alphabet Inc will post 42.07 EPS for the current fiscal year.

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.

Read More: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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