SFE Investment Counsel Has $4.09 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

SFE Investment Counsel lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,676 shares of the information services provider’s stock after selling 98 shares during the period. SFE Investment Counsel’s holdings in Alphabet were worth $4,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 2.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,329,607 shares of the information services provider’s stock worth $15,117,461,000 after buying an additional 145,732 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 4,939,735 shares of the information services provider’s stock valued at $10,160,892,000 after acquiring an additional 79,686 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,234,389 shares of the information services provider’s stock valued at $6,670,993,000 after acquiring an additional 10,002 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Alphabet by 0.6% in the 1st quarter. Nuveen Asset Management LLC now owns 1,837,478 shares of the information services provider’s stock worth $3,789,835,000 after purchasing an additional 10,505 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Alphabet by 3.6% during the second quarter. Fisher Asset Management LLC now owns 1,779,895 shares of the information services provider’s stock worth $4,346,132,000 after purchasing an additional 61,474 shares during the period. Hedge funds and other institutional investors own 34.43% of the company’s stock.

GOOGL has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Wedbush boosted their target price on shares of Alphabet from $3,127.00 to $3,424.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Mizuho raised their price target on Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Jefferies Financial Group boosted their price objective on Alphabet from $2,950.00 to $3,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, Morgan Stanley raised their target price on Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $2,841.72.

Shares of GOOGL traded up $7.65 during trading hours on Wednesday, hitting $2,858.54. 33,029 shares of the stock traded hands, compared to its average volume of 1,521,662. The business has a fifty day moving average of $2,721.31 and a 200-day moving average of $2,428.14. The firm has a market capitalization of $1.91 trillion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 1-year low of $1,402.15 and a 1-year high of $2,925.07. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $19.89 by $7.37. The firm had revenue of $50.95 billion for the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same period last year, the firm earned $10.13 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Further Reading: Market Perform

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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