Janney Capital Management LLC Decreases Holdings in Alphabet Inc. (GOOGL)

Janney Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,318 shares of the information services provider’s stock after selling 464 shares during the quarter. Janney Capital Management LLC’s holdings in Alphabet were worth $14,240,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Schnieders Capital Management LLC boosted its holdings in shares of Alphabet by 2.2% during the second quarter. Schnieders Capital Management LLC now owns 3,957 shares of the information services provider’s stock valued at $3,679,000 after acquiring an additional 87 shares during the period. Taylor Cottrill Erickson & Associates Inc. boosted its holdings in shares of Alphabet by 4.6% during the second quarter. Taylor Cottrill Erickson & Associates Inc. now owns 1,692 shares of the information services provider’s stock valued at $1,573,000 after acquiring an additional 75 shares during the period. Harbour Capital Advisors LLC boosted its holdings in shares of Alphabet by 65,026.4% during the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after acquiring an additional 742,602 shares during the period. First Merchants Corp acquired a new position in shares of Alphabet during the second quarter valued at $432,000. Finally, IBM Retirement Fund boosted its holdings in shares of Alphabet by 75.3% during the second quarter. IBM Retirement Fund now owns 7,287 shares of the information services provider’s stock valued at $7,570,000 after acquiring an additional 3,129 shares during the period. 33.85% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (GOOGL) opened at 1005.65 on Friday. The firm has a market capitalization of $696.79 billion, a price-to-earnings ratio of 36.45 and a beta of 0.96. The company has a 50-day moving average price of $954.98 and a 200 day moving average price of $941.42. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,011.54.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). The company had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter in the prior year, the business earned $8.42 earnings per share. Equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on GOOGL shares. Societe Generale set a $1,210.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reissued an “overweight” rating and set a $1,050.00 price target on shares of Alphabet in a report on Saturday, July 22nd. Pivotal Research reissued a “hold” rating and set a $940.00 price target (down previously from $980.00) on shares of Alphabet in a report on Tuesday, July 25th. Deutsche Bank AG reissued a “buy” rating and set a $1,258.00 price target (up previously from $1,250.00) on shares of Alphabet in a report on Saturday, July 22nd. Finally, Citigroup Inc. boosted their price target on shares of Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,058.31.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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