Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.3% during the second quarter, HoldingsChannel reports. The fund owned 13,215 shares of the information services provider’s stock after selling 307 shares during the quarter. Alphabet comprises approximately 0.7% of CHURCHILL MANAGEMENT Corp’s holdings, making the stock its 17th largest position. CHURCHILL MANAGEMENT Corp’s holdings in Alphabet were worth $28,800,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Coombe Bender & Co LLC acquired a new stake in shares of Alphabet during the second quarter worth $229,000. Pure Financial Advisors LLC raised its holdings in shares of Alphabet by 30.3% during the second quarter. Pure Financial Advisors LLC now owns 413 shares of the information services provider’s stock worth $900,000 after purchasing an additional 96 shares during the period. Wealth Alliance Advisory Group LLC raised its holdings in shares of Alphabet by 12.6% during the second quarter. Wealth Alliance Advisory Group LLC now owns 242 shares of the information services provider’s stock worth $527,000 after purchasing an additional 27 shares during the period. Taylor & Morgan Wealth Management LLC raised its holdings in shares of Alphabet by 6.9% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 1,122 shares of the information services provider’s stock worth $2,445,000 after purchasing an additional 72 shares during the period. Finally, Covington Capital Management raised its holdings in shares of Alphabet by 1.8% during the second quarter. Covington Capital Management now owns 16,043 shares of the information services provider’s stock worth $34,962,000 after purchasing an additional 290 shares during the period. 1.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Monness Crespi & Hardt dropped their price objective on shares of Alphabet to $145.00 in a report on Tuesday, July 5th. Citigroup dropped their price objective on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Morgan Stanley increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a report on Wednesday, July 27th. Finally, UBS Group dropped their price objective on shares of Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $147.41.

Alphabet Stock Performance

Shares of GOOGL opened at $102.80 on Monday. Alphabet Inc. has a one year low of $100.94 and a one year high of $151.55. The company has a 50-day moving average of $112.93 and a two-hundred day moving average of $118.84. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). The firm had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the previous year, the business earned $27.26 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.21 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is owned by company insiders.

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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