Monarch Capital Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 828 shares of the information services provider’s stock after selling 13 shares during the quarter. Monarch Capital Management Inc.’s holdings in Alphabet were worth $1,214,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOGL. BlackRock Inc. boosted its stake in shares of Alphabet by 2.2% during the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock valued at $29,163,413,000 after buying an additional 445,690 shares during the last quarter. State Street Corp boosted its stake in Alphabet by 0.4% in the 1st quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after buying an additional 45,599 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock valued at $4,976,599,000 after buying an additional 439,638 shares in the last quarter. Morgan Stanley boosted its stake in Alphabet by 4.6% in the 1st quarter. Morgan Stanley now owns 2,573,124 shares of the information services provider’s stock valued at $2,989,841,000 after buying an additional 114,032 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Alphabet by 2.5% in the 2nd quarter. Fisher Asset Management LLC now owns 1,532,140 shares of the information services provider’s stock valued at $2,172,652,000 after buying an additional 37,689 shares in the last quarter. Institutional investors and hedge funds own 33.78% of the company’s stock.

Shares of Alphabet stock traded up $26.32 on Friday, hitting $1,632.98. 1,527,402 shares of the company’s stock were exchanged, compared to its average volume of 2,089,133. The company has a 50-day simple moving average of $1,508.29 and a 200-day simple moving average of $1,448.76. The stock has a market capitalization of $1,110.69 billion, a PE ratio of 35.91, a PEG ratio of 2.09 and a beta of 1.10. Alphabet Inc. has a 1 year low of $1,008.87 and a 1 year high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. On average, analysts expect that Alphabet Inc. will post 44.93 EPS for the current fiscal year.

Several analysts recently commented on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,800.00 price target on shares of Alphabet in a research note on Friday, July 31st. SunTrust Banks boosted their price objective on Alphabet from $1,805.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $1,550.00 to $1,600.00 in a research note on Friday, July 31st. BMO Capital Markets boosted their price objective on Alphabet from $1,550.00 to $1,750.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $1,800.00 to $1,850.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Three investment analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $1,686.58.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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