UBS Oconnor LLC Sells 11,744 Shares of Alphabet Inc (NASDAQ:GOOGL)

UBS Oconnor LLC trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 74.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,981 shares of the information services provider’s stock after selling 11,744 shares during the quarter. UBS Oconnor LLC’s holdings in Alphabet were worth $4,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lodestar Investment Counsel LLC IL grew its position in Alphabet by 0.8% during the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after acquiring an additional 34 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in Alphabet by 4.1% in the 2nd quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock worth $4,446,000 after buying an additional 160 shares during the period. Shellback Capital LP purchased a new stake in Alphabet in the 4th quarter worth approximately $6,270,000. Carlson Capital L P lifted its holdings in Alphabet by 19.2% in the 2nd quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock worth $26,447,000 after buying an additional 3,935 shares during the period. Finally, Hemenway Trust Co LLC lifted its holdings in Alphabet by 2.1% in the 2nd quarter. Hemenway Trust Co LLC now owns 18,121 shares of the information services provider’s stock worth $19,621,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 33.50% of the company’s stock.

Several equities research analysts have weighed in on GOOGL shares. Royal Bank of Canada increased their price objective on Alphabet to $1,425.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Morgan Stanley increased their price objective on Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Raymond James set a $1,360.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Credit Suisse Group increased their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, MKM Partners reiterated a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,373.76.

Shares of GOOGL traded up $6.10 on Thursday, reaching $1,238.75. The stock had a trading volume of 551,691 shares, compared to its average volume of 1,116,575. The firm has a market capitalization of $854.01 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The company has a 50-day simple moving average of $1,193.93 and a 200-day simple moving average of $1,169.82. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last released 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. The company had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, analysts expect that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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