Adell Harriman & Carpenter Inc. Decreases Stake in Alphabet Inc. (GOOGL)

Adell Harriman & Carpenter Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,675 shares of the information services provider’s stock after selling 161 shares during the quarter. Alphabet comprises 1.4% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 24th largest position. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $6,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Richard Bernstein Advisors LLC increased its holdings in shares of Alphabet by 5.9% in the second quarter. Richard Bernstein Advisors LLC now owns 13,017 shares of the information services provider’s stock valued at $12,102,000 after purchasing an additional 722 shares during the last quarter. Catamount Wealth Management increased its holdings in shares of Alphabet by 4.8% in the second quarter. Catamount Wealth Management now owns 6,658 shares of the information services provider’s stock valued at $6,190,000 after purchasing an additional 305 shares during the last quarter. BB&T Securities LLC increased its holdings in shares of Alphabet by 15.6% in the second quarter. BB&T Securities LLC now owns 25,806 shares of the information services provider’s stock valued at $23,992,000 after purchasing an additional 3,483 shares during the last quarter. Northeast Investment Management increased its holdings in shares of Alphabet by 1.7% in the second quarter. Northeast Investment Management now owns 32,972 shares of the information services provider’s stock valued at $30,653,000 after purchasing an additional 554 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Alphabet by 22.5% in the second quarter. Blair William & Co. IL now owns 165,566 shares of the information services provider’s stock valued at $153,923,000 after purchasing an additional 30,409 shares during the last quarter. Institutional investors and hedge funds own 33.68% of the company’s stock.

Shares of Alphabet Inc. (GOOGL) opened at $1,035.89 on Monday. The stock has a market capitalization of $719,737.44, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $753.36 and a fifty-two week high of $1,063.62.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same period in the previous year, the business earned $9.06 EPS. sell-side analysts predict that Alphabet Inc. will post 32.34 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the company. Vetr raised Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price target for the company in a report on Monday, November 6th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Citigroup Inc. reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, October 30th. Stifel Nicolaus increased their price target on Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $990.00 price target on shares of Alphabet in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,088.53.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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