Leo Brokerage LLC Has $2.30 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Leo Brokerage LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,057 shares of the information services provider’s stock after selling 265 shares during the period. Leo Brokerage LLC’s holdings in Alphabet were worth $2,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at about $14,477,662,000. Aaron Wealth Advisors LLC grew its position in Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares during the period. Finally, Fisher Asset Management LLC grew its position in Alphabet by 4.3% during the first quarter. Fisher Asset Management LLC now owns 2,025,990 shares of the information services provider’s stock valued at $5,634,988,000 after buying an additional 83,043 shares during the period. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Alphabet Trading Down 1.9 %

Shares of GOOGL opened at $101.14 on Wednesday. The firm’s 50 day simple moving average is $112.60 and its 200 day simple moving average is $118.51. The company has a market capitalization of $1.32 trillion, a P/E ratio of 18.82, a P/E/G 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 Inc. has a 1-year low of $100.52 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly 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 business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the business posted $27.26 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now directly owns 33,260 shares of the company’s stock, valued at $3,658,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,658,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,536 shares of company stock valued at $15,729,998. 11.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Susquehanna reduced their price target on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, July 27th. Oppenheimer reduced their price target on shares of Alphabet to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Citigroup reduced their price target on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. MKM Partners reduced their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Finally, Mizuho reduced their price target on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet 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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