Silicon Valley Capital Partners lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,532 shares of the information services provider’s stock after selling 462 shares during the period. Alphabet accounts for 4.6% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 7th largest position. Silicon Valley Capital Partners’ holdings in Alphabet were worth $23,276,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Laurel Wealth Planning LLC purchased a new stake in Alphabet in the second quarter valued at $27,000. Sage Financial Management Group Inc. purchased a new stake in Alphabet in the first quarter valued at $56,000. Harvest Group Wealth Management LLC purchased a new stake in Alphabet in the second quarter valued at $66,000. Cowen Prime Advisors LLC purchased a new stake in Alphabet in the second quarter valued at $98,000. Finally, Capital Advisors Ltd. LLC raised its position in Alphabet by 35.9% in the first quarter. Capital Advisors Ltd. LLC now owns 53 shares of the information services provider’s stock valued at $109,000 after purchasing an additional 14 shares during the period. 34.43% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on GOOGL shares. Wedbush boosted their price objective on Alphabet from $3,127.00 to $3,424.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. MKM Partners boosted their price objective on Alphabet from $2,500.00 to $3,150.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Susquehanna Bancshares boosted their price objective on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Stifel Nicolaus boosted their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Finally, KeyCorp boosted their price objective on Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,846.21.
Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same period in the prior year, the firm earned $10.13 EPS. On average, equities analysts predict that Alphabet Inc. will post 101.86 EPS for the current 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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