Sequoia Financial Advisors LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,628 shares of the information services provider’s stock after selling 49 shares during the period. Sequoia Financial Advisors LLC’s holdings in Alphabet were worth $1,988,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC purchased a new stake in Alphabet in the third quarter worth $39,000. Litman Gregory Asset Management LLC acquired a new position in Alphabet during the second quarter worth about $37,000. Lipe & Dalton acquired a new position in Alphabet during the second quarter worth about $49,000. Johnson Financial Group Inc. raised its position in Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the last quarter. Finally, Vista Private Wealth Partners. LLC acquired a new position in Alphabet during the third quarter worth about $60,000. Institutional investors and hedge funds own 33.53% of the company’s stock.
Shares of NASDAQ GOOGL traded up $0.43 during mid-day trading on Tuesday, reaching $1,244.71. The company had a trading volume of 372,783 shares, compared to its average volume of 1,237,970. The stock has a fifty day moving average of $1,219.25 and a two-hundred day moving average of $1,176.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The company has a market capitalization of $864.18 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.47 and a beta of 0.99. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.
A number of equities research analysts recently issued reports on GOOGL shares. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a report on Friday, July 26th. Citigroup reissued a “buy” rating and issued a $1,450.00 price target (up from $1,325.00) on shares of Alphabet in a report on Friday, July 26th. Bank of America set a $1,450.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, September 6th. Stifel Nicolaus reissued a “hold” rating and issued a $1,287.00 price target on shares of Alphabet in a report on Tuesday, July 23rd. Finally, Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and a consensus target price of $1,375.78.
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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