Brightworth Has $6.60 Million Stake in Alphabet Inc Class A (GOOGL)

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Brightworth trimmed its stake in Alphabet Inc Class A (NASDAQ:GOOGL) by 6.9% in the second quarter, Holdings Channel reports. The fund owned 5,842 shares of the information services provider’s stock after selling 436 shares during the quarter. Alphabet Inc Class A comprises approximately 1.6% of Brightworth’s portfolio, making the stock its 17th biggest position. Brightworth’s holdings in Alphabet Inc Class A were worth $6,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Well Done LLC purchased a new stake in Alphabet Inc Class A during the first quarter valued at about $107,000. Westchester Capital Management Inc. grew its position in Alphabet Inc Class A by 1,262.5% during the first quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 101 shares during the period. KHP Capital LLC purchased a new stake in Alphabet Inc Class A during the first quarter valued at about $124,000. Private Ocean LLC grew its position in Alphabet Inc Class A by 355.6% during the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 96 shares during the period. Finally, Highlander Capital Management LLC grew its position in Alphabet Inc Class A by 333.3% during the first quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock valued at $133,000 after acquiring an additional 100 shares during the period. 33.46% of the stock is owned by institutional investors.

GOOGL has been the subject of a number of research reports. Bank of America lowered their price target on Alphabet Inc Class A from $1,390.00 to $1,350.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Goldman Sachs Group lowered their price target on Alphabet Inc Class A from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Credit Suisse Group reissued an “outperform” rating and set a $1,330.00 price target (down previously from $1,350.00) on shares of Alphabet Inc Class A in a research report on Monday, July 16th. Macquarie reissued a “buy” rating and set a $1,250.00 price target on shares of Alphabet Inc Class A in a research report on Monday, August 27th. Finally, Pivotal Research decreased their target price on Alphabet Inc Class A from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,334.23.

NASDAQ:GOOGL opened at $1,090.58 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc Class A has a one year low of $984.00 and a one year high of $1,291.44. The stock has a market capitalization of $754.23 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10.

Alphabet Inc Class A (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $10.54 by $2.52. Alphabet Inc Class A had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. As a group, equities research analysts predict that Alphabet Inc Class A will post 44.91 earnings per share for the current year.

Alphabet Inc Class A Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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