Gradient Capital Advisors LLC Trims Position in Alphabet Inc (NASDAQ:GOOGL)

Share on StockTwits

Gradient Capital Advisors LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 394 shares of the information services provider’s stock after selling 66 shares during the period. Gradient Capital Advisors LLC’s holdings in Alphabet were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Red Spruce Capital LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $5,017,000. Pacific Wealth Strategies Group Inc. increased its position in shares of Alphabet by 2.3% during the 4th quarter. Pacific Wealth Strategies Group Inc. now owns 3,358 shares of the information services provider’s stock worth $4,498,000 after purchasing an additional 75 shares during the last quarter. Cullinan Associates Inc. increased its position in shares of Alphabet by 3.7% during the 4th quarter. Cullinan Associates Inc. now owns 16,234 shares of the information services provider’s stock worth $21,744,000 after purchasing an additional 574 shares during the last quarter. IMS Capital Management increased its position in shares of Alphabet by 3.9% during the 4th quarter. IMS Capital Management now owns 424 shares of the information services provider’s stock worth $568,000 after purchasing an additional 16 shares during the last quarter. Finally, AE Wealth Management LLC increased its position in shares of Alphabet by 27.0% during the 4th quarter. AE Wealth Management LLC now owns 6,501 shares of the information services provider’s stock worth $8,707,000 after purchasing an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 33.55% of the company’s stock.

Shares of GOOGL stock opened at $1,439.20 on Thursday. The business’s fifty day moving average price is $1,356.66 and its 200 day moving average price is $1,248.24. Alphabet Inc has a 1-year low of $1,027.03 and a 1-year high of $1,442.63. The firm has a market capitalization of $992.60 billion, a PE ratio of 30.29, a P/E/G ratio of 1.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The business had revenue of $33.01 billion for the quarter, compared to analyst estimates of $32.84 billion. During the same period in the prior year, the company earned $13.06 EPS. Equities research analysts expect that Alphabet Inc will post 49.03 earnings per share for the current fiscal year.

Several equities analysts have weighed in on GOOGL shares. Robert W. Baird reaffirmed a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a research report on Thursday, December 19th. Sanford C. Bernstein started coverage on Alphabet in a research report on Friday, January 10th. They set an “outperform” rating and a $1,600.00 price objective for the company. Royal Bank of Canada boosted their price objective on Alphabet from $1,425.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Barclays reissued a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research report on Tuesday, October 29th. Finally, Canaccord Genuity raised Alphabet from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,438.05.

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.

Recommended Story: Does a trade war provide a risk to the global economy?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.