Acorn Financial Advisory Services Inc. ADV Sells 444 Shares of Alphabet Inc (NASDAQ:GOOGL)
Acorn Financial Advisory Services Inc. ADV reduced its holdings in Alphabet Inc (NASDAQ:GOOGL) by 43.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 589 shares of the information services provider’s stock after selling 444 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Alphabet were worth $836,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Stephenson National Bank & Trust bought a new position in Alphabet in the 4th quarter worth about $27,000. Cox Capital Mgt LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $27,000. HighMark Wealth Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $34,000. Spence Asset Management boosted its holdings in shares of Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its holdings in shares of Alphabet by 54.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 34 shares of the information services provider’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 34.22% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price objective for the company in a report on Friday, March 13th. Citigroup upped their price objective on Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Mizuho upped their price objective on Alphabet from $1,500.00 to $1,560.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Canaccord Genuity increased their target price on Alphabet from $1,550.00 to $1,700.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Three research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $1,543.39.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The firm had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. During the same period last year, the company posted $9.50 earnings per share. On average, research analysts predict that Alphabet Inc will post 41.23 EPS for the current year.
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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