Ingalls & Snyder LLC Sells 882 Shares of Alphabet Inc. (GOOGL)

Ingalls & Snyder LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,517 shares of the company’s stock after selling 882 shares during the period. Ingalls & Snyder LLC’s holdings in Alphabet were worth $7,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Trust Department MB Financial Bank N A raised its stake in shares of Alphabet by 1.2% in the second quarter. Trust Department MB Financial Bank N A now owns 20,941 shares of the company’s stock valued at $14,732,000 after buying an additional 255 shares in the last quarter. BTR Capital Management Inc. raised its stake in Alphabet by 23.7% in the second quarter. BTR Capital Management Inc. now owns 16,341 shares of the company’s stock worth $11,496,000 after buying an additional 3,128 shares during the period. Cim LLC raised its stake in Alphabet by 3.1% in the second quarter. Cim LLC now owns 9,872 shares of the company’s stock worth $6,945,000 after buying an additional 297 shares during the period. Professional Advisory Services Inc. raised its stake in Alphabet by 0.9% in the second quarter. Professional Advisory Services Inc. now owns 2,008 shares of the company’s stock worth $1,413,000 after buying an additional 18 shares during the period. Finally, Arcadia Investment Management Corp MI raised its stake in Alphabet by 5.3% in the second quarter. Arcadia Investment Management Corp MI now owns 4,145 shares of the company’s stock worth $2,916,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 34.57% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.36% during midday trading on Wednesday, hitting $823.00. 450,174 shares of the stock were exchanged. Alphabet Inc. has a 1-year low of $672.66 and a 1-year high of $839.00. The company has a market capitalization of $567.24 billion, a P/E ratio of 30.12 and a beta of 0.89. The firm has a 50-day moving average of $797.67 and a 200-day moving average of $786.22.

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A number of equities research analysts have recently issued reports on the company. Credit Suisse Group lowered their target price on Alphabet from $1,120.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Wednesday. B. Riley reiterated a “buy” rating and issued a $990.00 target price on shares of Alphabet in a research note on Wednesday, November 2nd. Canaccord Genuity lowered their target price on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research note on Thursday, December 1st. Aegis assumed coverage on Alphabet in a research note on Wednesday, December 21st. They issued a “buy” rating and a $980.00 target price for the company. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Alphabet in a research note on Wednesday, December 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $947.51.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

5 Day Chart for NASDAQ:GOOGL

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