Concourse Capital Management LLC cut its stake in Alphabet Inc (NASDAQ:GOOGL) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,161 shares of the information services provider’s stock after selling 420 shares during the period. Alphabet comprises about 3.8% of Concourse Capital Management LLC’s holdings, making the stock its 10th largest holding. Concourse Capital Management LLC’s holdings in Alphabet were worth $6,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Novare Capital Management LLC raised its stake in Alphabet by 0.9% in the second quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock valued at $7,986,000 after buying an additional 80 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in Alphabet in the second quarter valued at $211,000. Country Trust Bank acquired a new stake in Alphabet in the second quarter valued at $44,071,000. Anchor Capital Advisors LLC raised its stake in Alphabet by 3.0% in the second quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock valued at $351,000 after buying an additional 11 shares in the last quarter. Finally, Opera Trading Capital acquired a new stake in shares of Alphabet during the second quarter worth about $1,010,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

A number of analysts have recently commented on GOOGL shares. CIBC reiterated an “outperform” rating and set a $1,180.00 target price (up previously from $1,050.00) on shares of Alphabet in a research report on Friday, October 27th. Pivotal Research reiterated a “hold” rating and set a $970.00 target price on shares of Alphabet in a research report on Friday, October 13th. UBS reiterated a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research report on Friday, September 8th. Citigroup reiterated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated an “outperform” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,089.17.

Shares of Alphabet Inc (GOOGL) opened at $1,044.57 on Friday. The company has a market capitalization of $722,580.00, a P/E ratio of 34.13, a PEG ratio of 1.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a 52 week low of $787.91 and a 52 week high of $1,080.00.

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

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Alphabet 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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