Marino Stram & Associates LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 86.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266 shares of the information services provider’s stock after selling 1,665 shares during the quarter. Marino Stram & Associates LLC’s holdings in Alphabet were worth $711,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GOOGL. Laurel Wealth Planning LLC purchased a new stake in Alphabet in the second quarter valued at approximately $27,000. True Link Financial Advisors LLC acquired a new position in Alphabet during the second quarter worth approximately $29,000. Financial Insights Inc. purchased a new stake in shares of Alphabet in the second quarter valued at approximately $39,000. Harvest Group Wealth Management LLC purchased a new stake in Alphabet during the second quarter worth $66,000. Finally, Cowen Prime Advisors LLC purchased a new stake in Alphabet during the second quarter worth $98,000. 34.30% of the stock is currently owned by institutional investors and hedge funds.
GOOGL has been the topic of several analyst reports. Susquehanna raised their target price on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research report on Wednesday, July 28th. Stifel Nicolaus boosted their price target on Alphabet from $3,000.00 to $3,200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 27th. Jefferies Financial Group lifted their price objective on Alphabet from $3,325.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. KeyCorp upped their price objective on Alphabet from $3,071.00 to $3,090.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Finally, Oppenheimer boosted their target price on Alphabet from $3,000.00 to $3,500.00 and gave the stock an “outperform” rating in a report on Wednesday, October 27th. Four analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $3,156.15.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. During the same period last year, the business posted $16.40 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 107.86 EPS for the current fiscal year.
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.
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