Gamble Jones Investment Counsel Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Gamble Jones Investment Counsel lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,144 shares of the information services provider’s stock after selling 88 shares during the period. Alphabet makes up 1.0% of Gamble Jones Investment Counsel’s portfolio, making the stock its 18th largest position. Gamble Jones Investment Counsel’s holdings in Alphabet were worth $9,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tealwood Asset Management Inc. increased its position in Alphabet by 3.7% in the first quarter. Tealwood Asset Management Inc. now owns 1,975 shares of the information services provider’s stock worth $1,674,000 after buying an additional 70 shares during the last quarter. Kanawha Capital Management LLC increased its position in Alphabet by 4.3% in the first quarter. Kanawha Capital Management LLC now owns 5,207 shares of the information services provider’s stock worth $4,414,000 after buying an additional 214 shares during the last quarter. Strs Ohio increased its position in Alphabet by 13.0% in the first quarter. Strs Ohio now owns 318,937 shares of the information services provider’s stock worth $270,394,000 after buying an additional 36,635 shares during the last quarter. Barton Investment Management increased its position in Alphabet by 36.9% in the first quarter. Barton Investment Management now owns 4,285 shares of the information services provider’s stock worth $3,632,000 after buying an additional 1,155 shares during the last quarter. Finally, Pecaut & CO. increased its position in Alphabet by 20.0% in the first quarter. Pecaut & CO. now owns 480 shares of the information services provider’s stock worth $407,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 34.33% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) opened at 975.96 on Tuesday. The company has a market cap of $675.12 billion, a price-to-earnings ratio of 32.98 and a beta of 1.00. The stock has a 50 day moving average of $972.78 and a 200-day moving average of $880.30. Alphabet Inc. has a 52-week low of $734.64 and a 52-week high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the consensus estimate of $7.24 by $0.49. The company had revenue of $20.12 billion during the quarter, compared to the consensus estimate of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same quarter in the prior year, the firm posted $7.50 EPS. On average, analysts forecast that Alphabet Inc. will post $34.03 EPS for the current year.

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A number of analysts recently weighed in on GOOGL shares. Instinet reaffirmed a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a report on Tuesday, April 25th. BMO Capital Markets cut shares of Alphabet from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $1,005.00 to $880.00 in a report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 price objective (up previously from $1,000.00) on shares of Alphabet in a report on Friday, April 28th. Loop Capital started coverage on shares of Alphabet in a report on Friday, March 31st. They issued a “hold” rating and a $800.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Alphabet from a “hold” rating to a “sell” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-one have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,018.89.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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