Menlo Advisors LLC maintained its stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,230 shares of the information services provider’s stock at the close of the second quarter. Alphabet makes up about 2.9% of Menlo Advisors LLC’s investment portfolio, making the stock its 17th largest position. Menlo Advisors LLC’s holdings in Alphabet were worth $3,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alta Capital Management LLC lifted its position in Alphabet by 1.3% in the first quarter. Alta Capital Management LLC now owns 79,008 shares of the information services provider’s stock worth $66,982,000 after purchasing an additional 1,001 shares during the period. Patriot Wealth Management Inc. boosted its stake in Alphabet by 2.6% during the first quarter. Patriot Wealth Management Inc. now owns 5,599 shares of the information services provider’s stock worth $4,747,000 after buying an additional 141 shares in the last quarter. Girard Partners LTD. boosted its stake in Alphabet by 10.7% during the first quarter. Girard Partners LTD. now owns 4,528 shares of the information services provider’s stock worth $3,839,000 after buying an additional 439 shares in the last quarter. Courier Capital LLC boosted its stake in Alphabet by 7.9% during the first quarter. Courier Capital LLC now owns 617 shares of the information services provider’s stock worth $523,000 after buying an additional 45 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC boosted its stake in Alphabet by 11.0% during the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 1,736 shares of the information services provider’s stock worth $1,471,000 after buying an additional 172 shares in the last quarter. 33.85% of the stock is owned by institutional investors and hedge funds.

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Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.59% during midday trading on Monday, reaching $968.01. 787,956 shares of the company’s stock traded hands. The company has a 50 day moving average of $939.49 and a 200 day moving average of $928.76. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61. The firm has a market cap of $670.71 billion, a PE ratio of 35.08 and a beta of 0.96.

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

A number of equities analysts have recently issued reports on the stock. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price objective for the company in a research note on Monday, June 5th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. lifted their target price on shares of Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reiterated a “buy” rating and set a $1,080.00 target price (up from $1,050.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Barclays PLC reissued an “overweight” rating and issued a $1,060.00 target price (down previously from $1,065.00) on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-one have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $1,056.14.

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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