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Empowered Funds LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)


Empowered Funds LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 62.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 385 shares of the information services provider’s stock after selling 635 shares during the period. Empowered Funds LLC’s holdings in Alphabet were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Latitude Advisors LLC boosted its position in shares of Alphabet by 0.4% in the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider’s stock worth $3,210,000 after purchasing an additional 4 shares during the period. Brave Asset Management Inc. boosted its position in shares of Alphabet by 0.6% during the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider’s stock worth $1,819,000 after acquiring an additional 4 shares during the last quarter. Smithbridge Asset Management Inc. DE boosted its position in shares of Alphabet by 1.5% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider’s stock worth $762,000 after acquiring an additional 4 shares during the last quarter. Affinity Capital Advisors LLC boosted its position in shares of Alphabet by 1.3% during the fourth quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider’s stock worth $898,000 after acquiring an additional 4 shares during the last quarter. Finally, Summit Financial Strategies Inc. boosted its position in shares of Alphabet by 1.3% during the fourth quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock worth $933,000 after acquiring an additional 4 shares during the last quarter. 41.70% of the stock is owned by hedge funds and other institutional investors.

GOOGL stock opened at $2,387.07 on Friday. The company has a market capitalization of $1.57 trillion, a PE ratio of 21.59, a P/E/G ratio of 1.12 and a beta of 1.10. Alphabet Inc. has a 12 month low of $2,037.69 and a 12 month high of $3,030.93. The firm’s 50-day moving average is $2,256.40 and its 200 day moving average is $2,545.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.

Alphabet shares are scheduled to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. During the same period in the prior year, the business earned $26.29 EPS. Sell-side analysts forecast that Alphabet Inc. will post 110.62 EPS for the current fiscal year.

A number of brokerages recently weighed in on GOOGL. Stifel Nicolaus dropped their target price on shares of Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Moffett Nathanson dropped their target price on shares of Alphabet to $2,650.00 in a research report on Thursday, May 26th. Guggenheim dropped their target price on shares of Alphabet from $3,350.00 to $3,000.00 in a research report on Wednesday, April 27th. Wedbush lowered their price objective on shares of Alphabet from $3,800.00 to $3,113.00 in a research report on Wednesday, April 27th. Finally, Morgan Stanley lowered their price objective on shares of Alphabet from $3,270.00 to $3,000.00 in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3,251.65.

In other Alphabet news, Director Brin Sergey sold 2,639 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $2,632.28, for a total transaction of $6,946,586.92. Following the transaction, the director now directly owns 18,599,842 shares in the company, valued at approximately $48,959,992,099.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 555,362 shares of company stock worth $32,765,727. 11.44% of the stock is owned by company insiders.

Alphabet Profile (Get Rating)

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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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)



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