Congress Asset Management Co. MA reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,872 shares of the information services provider’s stock after selling 2,246 shares during the quarter. Congress Asset Management Co. MA’s holdings in Alphabet were worth $48,224,000 as of its most recent filing with the Securities and Exchange Commission.

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

Shares of Alphabet Inc. (NASDAQ GOOGL) opened at 967.47 on Tuesday. The company’s 50-day moving average is $942.69 and its 200 day moving average is $934.82. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61. The company has a market cap of $670.34 billion, a PE ratio of 35.06 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). The firm 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 last year, the business posted $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

A number of equities analysts have issued reports on GOOGL shares. Jefferies Group LLC restated a “buy” rating and set a $1,200.00 target price on shares of Alphabet in a report on Tuesday, July 4th. Aegis reaffirmed a “buy” rating and issued a $1,090.00 price target on shares of Alphabet in a research note on Monday, July 3rd. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price target on the stock in a research report on Monday, June 5th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $1,070.00 price target on shares of Alphabet in a research report on Tuesday, June 27th. 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 assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,056.14.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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