Regent Investment Management LLC Has $3.73 Million Stake in Alphabet Inc (NASDAQ:GOOGL)

Regent Investment Management LLC lowered its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,631 shares of the information services provider’s stock after selling 39 shares during the quarter. Alphabet accounts for approximately 1.2% of Regent Investment Management LLC’s investment portfolio, making the stock its 21st biggest holding. Regent Investment Management LLC’s holdings in Alphabet were worth $3,731,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in Alphabet by 7.3% during the fourth quarter. Sunbelt Securities Inc. now owns 2,851 shares of the information services provider’s stock valued at $3,615,000 after buying an additional 193 shares during the period. Fulton Bank N.A. raised its stake in shares of Alphabet by 8.1% during the first quarter. Fulton Bank N.A. now owns 6,722 shares of the information services provider’s stock valued at $7,811,000 after acquiring an additional 505 shares during the last quarter. Gantzert Investment Co. LLC ADV raised its stake in Alphabet by 7.6% in the first quarter. Gantzert Investment Co. LLC ADV now owns 3,983 shares of the information services provider’s stock worth $4,628,000 after buying an additional 282 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Alphabet by 10.2% in the first quarter. Foundations Investment Advisors LLC now owns 1,442 shares of the information services provider’s stock worth $1,589,000 after buying an additional 134 shares in the last quarter. Finally, RDA Financial Network raised its stake in Alphabet by 6.9% in the first quarter. RDA Financial Network now owns 1,198 shares of the information services provider’s stock worth $1,392,000 after buying an additional 77 shares in the last quarter. 34.14% of the stock is currently owned by institutional investors.

NASDAQ GOOGL opened at $1,487.95 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1,050.12 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. The company has a 50 day moving average price of $1,473.93 and a 200 day moving average price of $1,375.65. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,587.05.

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

A number of equities analysts recently issued reports on GOOGL shares. BofA Securities increased their price target 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. Mizuho increased their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Oppenheimer restated a “buy” rating and issued a $1,445.00 price objective on shares of Alphabet in a report on Wednesday, April 29th. Goldman Sachs Group upped their price objective on shares of Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, JMP Securities upped their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,657.51.

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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