Alphabet Inc (GOOGL) Position Cut by SSI Investment Management Inc.

SSI Investment Management Inc. lowered its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,153 shares of the information services provider’s stock after selling 26 shares during the quarter. SSI Investment Management Inc.’s holdings in Alphabet were worth $2,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in shares of Alphabet in the 2nd quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet in the 1st quarter worth $108,000. Parkside Financial Bank & Trust raised its position in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares in the last quarter. Farmers National Bank raised its position in shares of Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after acquiring an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 58.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Shares of Alphabet Inc (GOOGL) opened at $1,044.57 on Friday. Alphabet Inc has a one year low of $787.91 and a one year high of $1,080.00. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $722,580.00, a PE ratio of 34.13, a PEG ratio of 1.71 and a beta of 0.90.

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

Several research analysts have 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 research report on Monday, November 6th. Pivotal Research reissued a “hold” rating and issued a $990.00 price target on shares of Alphabet in a research report on Sunday, October 29th. Stifel Nicolaus boosted their price target on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Citigroup reissued a “buy” rating on shares of Alphabet in a research report on Monday, October 30th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,157.00 price target for the company in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,089.17.

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Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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