Altus Wealth Management LLC Sells 10 Shares of Alphabet Inc (NASDAQ:GOOGL)

Altus Wealth Management LLC reduced its position in Alphabet Inc (NASDAQ:GOOGL) by 4.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 196 shares of the information services provider’s stock after selling 10 shares during the period. Alphabet accounts for approximately 0.3% of Altus Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Altus Wealth Management LLC’s holdings in Alphabet were worth $287,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Virtus Alternative Investment Advisers Inc. bought a new stake in Alphabet in the 2nd quarter valued at about $45,000. Cedar Mountain Advisors LLC raised its stake in Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 7 shares during the period. Watson Rebecca purchased a new position in Alphabet during the 2nd quarter valued at about $60,000. CVA Family Office LLC purchased a new position in Alphabet during the 1st quarter valued at about $70,000. Finally, Virtus ETF Advisers LLC purchased a new position in Alphabet during the 2nd quarter valued at about $84,000. Institutional investors and hedge funds own 33.78% of the company’s stock.

GOOGL has been the subject of a number of recent analyst reports. KeyCorp initiated coverage on Alphabet in a report on Monday, September 14th. They set an “overweight” rating and a $1,955.00 target price for the company. SunTrust Banks lifted their target price on Alphabet from $1,805.00 to $1,850.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays lifted their target price on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a report on Friday, July 31st. MKM Partners lifted their target price on Alphabet from $1,500.00 to $1,700.00 in a report on Monday, July 27th. Finally, Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $1,550.00 to $1,600.00 in a report on Friday, July 31st. Four investment analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $1,679.91.

NASDAQ GOOGL opened at $1,567.70 on Friday. Alphabet Inc has a 12 month low of $1,008.87 and a 12 month high of $1,726.10. The stock has a market cap of $1,066.29 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.14 and a beta of 1.10. The stock’s fifty day moving average price is $1,519.73 and its 200-day moving average price is $1,433.08. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The firm had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, analysts forecast that Alphabet Inc will post 44.87 earnings per share for the current fiscal year.

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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