First Allied Advisory Services Inc. decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.9% during the 2nd quarter, Holdings Channel reports. The fund owned 11,214 shares of the information services provider’s stock after selling 215 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Alphabet were worth $12,656,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Jaffetilchin Investment Partners LLC raised its holdings in shares of Alphabet by 7.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock valued at $646,000 after purchasing an additional 41 shares during the last quarter. Boston Family Office LLC raised its holdings in shares of Alphabet by 1.8% in the second quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock valued at $2,769,000 after purchasing an additional 43 shares during the last quarter. Warren Averett Asset Management LLC raised its holdings in shares of Alphabet by 2.7% in the second quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock valued at $1,873,000 after purchasing an additional 44 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Alphabet by 4.1% in the second quarter. Hollencrest Capital Management now owns 1,132 shares of the information services provider’s stock valued at $1,279,000 after purchasing an additional 45 shares during the last quarter. Finally, West Chester Capital Advisors Inc. raised its holdings in shares of Alphabet by 11.5% in the second quarter. West Chester Capital Advisors Inc. now owns 437 shares of the information services provider’s stock valued at $494,000 after purchasing an additional 45 shares during the last quarter. 33.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of GOOGL opened at $1,071.05 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a 1-year low of $984.00 and a 1-year high of $1,291.44. The firm has a market cap of $730.23 billion, a P/E ratio of 33.42, a PEG ratio of 1.28 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The firm had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. On average, analysts predict that Alphabet Inc will post 45.24 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $1,375.00 price objective (up from $1,330.00) on shares of Alphabet in a report on Tuesday, July 24th. SunTrust Banks lifted their price objective on shares of Alphabet to $1,370.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Royal Bank of Canada lifted their price objective on shares of Alphabet to $1,400.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Argus lifted their price objective on shares of Alphabet to $1,450.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Macquarie reiterated a “buy” rating and issued a $1,250.00 price objective on shares of Alphabet in a report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,333.29.

WARNING: “Alphabet Inc (GOOGL) Position Trimmed by First Allied Advisory Services Inc.” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2018/11/16/alphabet-inc-googl-position-trimmed-by-first-allied-advisory-services-inc.html.

Alphabet 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.

See Also: How Short Selling Works

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.