FLC Capital Advisors Sells 43 Shares of Alphabet Inc. (NASDAQ:GOOGL)

FLC Capital Advisors lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,284 shares of the information services provider’s stock after selling 43 shares during the quarter. FLC Capital Advisors’ holdings in Alphabet were worth $1,992,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of 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 purchasing an additional 623,604 shares during the last quarter. BlackRock Inc. lifted its position in shares of 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 purchasing an additional 445,690 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 purchasing an additional 439,638 shares during the last quarter. Softbank Group Corp acquired a new position in Alphabet in the 2nd quarter valued at approximately $475,176,000. Finally, APG Asset Management N.V. raised its holdings in Alphabet by 31.1% in the 2nd quarter. APG Asset Management N.V. now owns 516,207 shares of the information services provider’s stock valued at $651,745,000 after acquiring an additional 122,396 shares in the last quarter. Institutional investors own 33.78% of the company’s stock.

Several equities analysts have commented on the company. KeyCorp assumed coverage on Alphabet in a report on Monday, September 14th. They issued an “overweight” rating and a $1,955.00 price target for the company. Moffett Nathanson upped their price target on Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Tigress Financial reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, August 25th. Credit Suisse Group upped their price objective on Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Finally, JMP Securities upped their price objective on Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,686.58.

Alphabet stock traded down $53.55 during mid-day trading on Monday, hitting $1,579.43. 64,867 shares of the company’s stock were exchanged, compared to its average volume of 2,079,089. The firm has a market capitalization of $1,110.69 billion, a P/E ratio of 34.56, a PEG ratio of 2.09 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,726.10. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $1,508.29 and its 200-day simple moving average is $1,448.76.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Research analysts expect that Alphabet Inc. will post 44.93 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.