Alphabet Inc (NASDAQ:GOOGL) Shares Acquired by Institute for Wealth Management LLC.

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Institute for Wealth Management LLC. grew its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,855 shares of the information services provider’s stock after purchasing an additional 10 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Alphabet were worth $2,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Iron Financial LLC lifted its stake in shares of Alphabet by 15.1% during the second quarter. Iron Financial LLC now owns 282 shares of the information services provider’s stock valued at $332,000 after buying an additional 37 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Alphabet by 1.2% during the second quarter. Jones Financial Companies Lllp now owns 13,822 shares of the information services provider’s stock valued at $14,967,000 after buying an additional 161 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Alphabet by 105.6% during the second quarter. Hillsdale Investment Management Inc. now owns 370 shares of the information services provider’s stock valued at $401,000 after buying an additional 190 shares during the period. LFA Lugano Financial Advisors SA lifted its stake in shares of Alphabet by 4.2% during the second quarter. LFA Lugano Financial Advisors SA now owns 726 shares of the information services provider’s stock valued at $786,000 after buying an additional 29 shares during the period. Finally, Grisanti Capital Management LLC lifted its stake in shares of Alphabet by 29.6% during the second quarter. Grisanti Capital Management LLC now owns 10,399 shares of the information services provider’s stock valued at $11,260,000 after buying an additional 2,376 shares during the period. 34.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of GOOGL stock traded down $8.10 during mid-day trading on Tuesday, reaching $1,192.34. The company’s stock had a trading volume of 235,993 shares, compared to its average volume of 1,845,357. The company’s 50 day simple moving average is $1,166.17 and its 200-day simple moving average is $1,158.61. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $825.56 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. As a group, research analysts anticipate that Alphabet Inc will post 51.94 EPS for the current fiscal year.

Several brokerages recently issued reports on GOOGL. Mizuho upped their price objective on shares of Alphabet from $1,350.00 to $1,400.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Loop Capital assumed coverage on shares of Alphabet in a research note on Monday, June 3rd. They set a “hold” rating and a $1,250.00 price target on the stock. ValuEngine downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Canaccord Genuity increased their price target on shares of Alphabet from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Susquehanna Bancshares increased their price target on shares of Alphabet to $1,550.00 in a research note on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,371.05.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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