Arete Wealth Advisors LLC Decreases Stake in Alphabet Inc (NASDAQ:GOOGL)

Arete Wealth Advisors LLC cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 38.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,490 shares of the information services provider’s stock after selling 1,582 shares during the period. Alphabet accounts for approximately 1.1% of Arete Wealth Advisors LLC’s portfolio, making the stock its 18th largest holding. Arete Wealth Advisors LLC’s holdings in Alphabet were worth $2,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbour Capital Advisors LLC lifted its stake in Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock worth $800,000 after acquiring an additional 742,602 shares during the period. Vanguard Group Inc. raised its holdings in Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares in the last quarter. BlackRock Inc. raised its holdings in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. FMR LLC raised its holdings in Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after purchasing an additional 367,634 shares in the last quarter. Finally, Investec Asset Management LTD raised its holdings in Alphabet by 62.7% in the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock worth $526,576,000 after purchasing an additional 239,390 shares in the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOGL) traded up $19.81 during trading hours on Tuesday, reaching $1,073.21. The company had a trading volume of 1,587,976 shares, compared to its average volume of 1,490,000. Alphabet Inc has a 12 month low of $789.62 and a 12 month high of $1,086.49. The firm has a market cap of $743,180.00, a price-to-earnings ratio of 35.75, a P/E/G ratio of 1.77 and a beta of 0.90. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same period in the prior year, the company posted $9.06 EPS. equities analysts predict that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

GOOGL has been the subject of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $1,075.00 price objective on shares of Alphabet in a report on Monday, September 25th. UBS Group reissued a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a research report on Friday, September 8th. Jefferies Group reissued a “buy” rating and issued a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, October 17th. Finally, Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective on the stock. in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,091.54.

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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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