Allred Capital Management LLC Has $1.28 Million Holdings in Alphabet Inc (NASDAQ:GOOGL)

Allred Capital Management LLC lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 876 shares of the information services provider’s stock after selling 14 shares during the period. Alphabet accounts for about 0.8% of Allred Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Allred Capital Management LLC’s holdings in Alphabet were worth $1,283,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in Alphabet during the 1st quarter worth $79,769,000. Nordea Investment Management AB lifted its position in Alphabet by 115.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,164,092 shares of the information services provider’s stock worth $1,620,126,000 after acquiring an additional 623,604 shares during the last quarter. BlackRock Inc. lifted its position in Alphabet by 2.2% during the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock worth $29,163,413,000 after acquiring an additional 445,690 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Alphabet by 14.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock worth $4,976,599,000 after acquiring an additional 439,638 shares during the last quarter. Finally, Softbank Group Corp acquired a new position in Alphabet during the 2nd quarter worth $475,176,000. 33.78% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. MKM Partners boosted their target price on shares of Alphabet from $1,500.00 to $1,700.00 in a research report on Monday, July 27th. SunTrust Banks boosted their target price on shares of Alphabet from $1,805.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Tigress Financial restated a “buy” rating on shares of Alphabet in a report on Tuesday, August 25th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,643.00 price objective on the stock. in a report on Tuesday, October 13th. Finally, Jefferies Financial Group upgraded shares of Alphabet to a “buy” rating in a report on Monday, July 13th. Four analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,679.91.

Shares of GOOGL stock opened at $1,567.70 on Friday. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,726.10. The firm’s 50 day moving average is $1,519.73 and its 200-day moving average is $1,433.08. The firm has a market capitalization of $1,066.29 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.14 and a beta of 1.10. 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 announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. On average, equities research analysts forecast that Alphabet Inc will post 44.87 earnings per share for the current fiscal year.

Alphabet 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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