Baader Bank INC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Baader Bank INC reduced its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 14.0% during the first quarter, HoldingsChannel reports. The fund owned 22,211 shares of the information services provider’s stock after selling 3,624 shares during the quarter. Alphabet comprises 4.9% of Baader Bank INC’s holdings, making the stock its 2nd biggest position. Baader Bank INC’s holdings in Alphabet were worth $61,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Dravo Bay LLC bought a new stake in shares of Alphabet during the first quarter valued at about $28,000. Wealthgate Family Office LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $32,000. Financial Enhancement Group LLC bought a new stake in shares of Alphabet during the first quarter valued at about $31,000. Cordant Inc. bought a new stake in shares of Alphabet during the first quarter valued at about $56,000. Finally, Bivin & Associates Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at about $70,000. 1.88% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $104.32 on Wednesday. The stock has a fifty day simple moving average of $113.65 and a two-hundred day simple moving average of $119.36. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter last year, the company posted $27.26 EPS. Research analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $110.00, for a total value of $165,000.00. Following the transaction, the director now owns 33,260 shares of the company’s stock, valued at $3,658,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. Exane BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Susquehanna Bancshares cut their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a report on Wednesday, July 27th. Jefferies Financial Group cut their price objective on Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. JPMorgan Chase & Co. cut their price objective on Alphabet from $160.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, June 29th. Finally, Evercore ISI cut their price objective on Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $147.41.

Alphabet Company Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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