UBS Oconnor LLC Sells 11,744 Shares of Alphabet Inc (NASDAQ:GOOGL)

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UBS Oconnor LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 74.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,981 shares of the information services provider’s stock after selling 11,744 shares during the quarter. UBS Oconnor LLC’s holdings in Alphabet were worth $4,311,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew its stake in Alphabet by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock valued at $24,402,449,000 after purchasing an additional 302,354 shares during the period. Invesco Ltd. grew its stake in Alphabet by 37.1% in the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after purchasing an additional 1,285,824 shares during the period. Northern Trust Corp grew its stake in Alphabet by 0.9% in the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock valued at $4,197,956,000 after purchasing an additional 33,408 shares during the period. Thoroughbred Financial Services LLC grew its stake in Alphabet by 205,910.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares during the period. Finally, Edgewood Management LLC grew its stake in Alphabet by 1.0% in the 2nd quarter. Edgewood Management LLC now owns 1,437,530 shares of the information services provider’s stock valued at $1,556,557,000 after purchasing an additional 14,605 shares during the period. Institutional investors and hedge funds own 33.50% of the company’s stock.

A number of research analysts have issued reports on the company. Citigroup restated a “buy” rating and issued a $1,450.00 price objective (up previously from $1,325.00) on shares of Alphabet in a research note on Friday, July 26th. Needham & Company LLC set a $1,350.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on Alphabet to $1,425.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Loop Capital assumed coverage on Alphabet in a research note on Monday, June 3rd. They issued a “hold” rating and a $1,250.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Alphabet to $1,225.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $1,373.76.

GOOGL traded up $6.10 during trading on Thursday, reaching $1,238.75. 551,691 shares of the company were exchanged, compared to its average volume of 1,116,575. The company’s 50-day moving average is $1,193.93 and its two-hundred day moving average is $1,169.82. The company has a market cap of $854.01 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 1.37 and a beta of 0.99. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. Equities analysts forecast that Alphabet Inc will post 51.29 earnings per share for the current year.

Alphabet 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 (NASDAQ:GOOGL)

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