Elite Wealth Management Inc. lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,686 shares of the information services provider’s stock after selling 132 shares during the period. Alphabet comprises 4.8% of Elite Wealth Management Inc.’s holdings, making the stock its 6th biggest position. Elite Wealth Management Inc.’s holdings in Alphabet were worth $4,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestor Capital LLC purchased a new stake in Alphabet during the third quarter valued at approximately $62,000. Lavaca Capital LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $97,000. Sound Income Strategies LLC lifted its position in Alphabet by 71.4% during the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after acquiring an additional 40 shares during the last quarter. Matthew Goff Investment Advisor LLC purchased a new stake in Alphabet during the third quarter valued at approximately $107,000. Finally, CX Institutional increased its stake in Alphabet by 93.1% during the 4th quarter. CX Institutional now owns 112 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 54 shares in the last quarter. 33.99% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Needham & Company LLC began coverage on shares of Alphabet in a research note on Monday, March 4th. They issued a “buy” rating and a $1,153.42 price objective on the stock. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. Nomura reiterated an “outperform” rating on shares of Alphabet in a research note on Wednesday, February 6th. Finally, William Blair reiterated an “outperform” rating on shares of Alphabet in a research note on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,329.91.

GOOGL stock opened at $1,241.47 on Friday. The firm has a market cap of $863.05 billion, a P/E ratio of 26.13, a PEG ratio of 1.44 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. Alphabet Inc has a one year low of $977.66 and a one year high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. During the same quarter last year, the business earned $9.70 earnings per share. Research analysts predict that Alphabet Inc will post 47.49 earnings per share for the current year.

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Alphabet Company 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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