McIlrath & Eck LLC Sells 85 Shares of Alphabet Inc (NASDAQ:GOOGL)

McIlrath & Eck LLC cut its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 15.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 477 shares of the information services provider’s stock after selling 85 shares during the period. Alphabet makes up about 0.3% of McIlrath & Eck LLC’s portfolio, making the stock its 17th biggest holding. McIlrath & Eck LLC’s holdings in Alphabet were worth $582,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Watch Point Trust Co raised its holdings in shares of Alphabet by 12.3% in the third quarter. Watch Point Trust Co now owns 3,036 shares of the information services provider’s stock worth $3,707,000 after buying an additional 333 shares during the period. Brasada Capital Management LP raised its holdings in shares of Alphabet by 7.1% in the third quarter. Brasada Capital Management LP now owns 7,873 shares of the information services provider’s stock worth $9,614,000 after buying an additional 521 shares during the period. Papp L Roy & Associates raised its holdings in shares of Alphabet by 110.4% in the third quarter. Papp L Roy & Associates now owns 16,594 shares of the information services provider’s stock worth $20,264,000 after buying an additional 8,708 shares during the period. Martin Investment Management LLC raised its holdings in shares of Alphabet by 0.3% in the third quarter. Martin Investment Management LLC now owns 10,735 shares of the information services provider’s stock worth $13,109,000 after buying an additional 28 shares during the period. Finally, Jacobs & Co. CA raised its holdings in shares of Alphabet by 0.6% in the third quarter. Jacobs & Co. CA now owns 4,466 shares of the information services provider’s stock worth $5,453,000 after buying an additional 27 shares during the period. 33.56% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on GOOGL shares. Citigroup reiterated 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. Canaccord Genuity increased their price target on Alphabet from $1,350.00 to $1,450.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Nomura reiterated a “buy” rating and issued a $1,400.00 price target (up from $1,300.00) on shares of Alphabet in a report on Friday, July 26th. Barclays reiterated a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a report on Tuesday, October 29th. Finally, Credit Suisse Group restated an “outperform” rating and set a $1,700.00 price objective (up from $1,500.00) on shares of Alphabet in a report on Wednesday, October 23rd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,406.25.

Shares of NASDAQ:GOOGL traded up $2.06 on Friday, reaching $1,309.00. The company had a trading volume of 1,519,600 shares, compared to its average volume of 1,555,468. The firm’s 50 day simple moving average is $1,241.32 and its 200-day simple moving average is $1,181.32. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,322.65. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $895.48 billion, a PE ratio of 27.55, a PEG ratio of 1.58 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion for the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. During the same period in the prior year, the firm posted $13.06 EPS. As a group, equities research analysts predict that Alphabet Inc will post 49.05 earnings per share for the current year.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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