SeaBridge Investment Advisors LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

SeaBridge Investment Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,652 shares of the information services provider’s stock after selling 29 shares during the quarter. Alphabet makes up about 2.1% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 7th largest position. SeaBridge Investment Advisors LLC’s holdings in Alphabet were worth $6,476,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Planning LLC purchased a new stake in Alphabet in the second quarter worth $27,000. Sage Financial Management Group Inc. purchased a new stake in Alphabet in the first quarter worth $56,000. Harvest Group Wealth Management LLC purchased a new stake in Alphabet in the second quarter worth $66,000. DB Wealth Management Group LLC increased its position in Alphabet by 18.9% in the first quarter. DB Wealth Management Group LLC now owns 44 shares of the information services provider’s stock worth $91,000 after buying an additional 7 shares during the last quarter. Finally, BigSur Wealth Management LLC increased its position in Alphabet by 80.0% in the first quarter. BigSur Wealth Management LLC now owns 45 shares of the information services provider’s stock worth $93,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

GOOGL stock traded down $3.20 during midday trading on Wednesday, hitting $2,847.69. The company’s stock had a trading volume of 30,579 shares, compared to its average volume of 1,521,662. The company has a market cap of $1.90 trillion, a PE ratio of 30.76, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 12 month low of $1,402.15 and a 12 month high of $2,925.07. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average is $2,721.31 and its 200-day moving average is $2,428.14.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.89 by $7.37. The business had revenue of $50.95 billion for 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 posted $10.13 EPS. Analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current year.

GOOGL has been the subject of several recent research reports. JMP Securities lifted their price target on Alphabet from $2,850.00 to $3,100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Jefferies Financial Group lifted their price target on Alphabet from $2,950.00 to $3,150.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $2,875.00 to $3,250.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Credit Suisse Group lifted their price objective on Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Finally, Piper Sandler lifted their price target on Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,841.72.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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