Beacon Financial Group Reduces Stake in Alphabet Inc (GOOGL)

Beacon Financial Group trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 910 shares of the information services provider’s stock after selling 75 shares during the period. Beacon Financial Group’s holdings in Alphabet were worth $952,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vestor Capital LLC purchased a new stake in Alphabet in the third quarter worth approximately $62,000. Sound Income Strategies LLC raised its position in Alphabet by 71.4% in the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after acquiring an additional 40 shares during the period. Parkside Investments LLC bought a new position in Alphabet in the third quarter worth approximately $124,000. ELM Advisors LLC bought a new position in Alphabet in the third quarter worth approximately $128,000. Finally, CX Institutional raised its position in Alphabet by 93.1% in the fourth quarter. CX Institutional now owns 112 shares of the information services provider’s stock worth $117,000 after acquiring an additional 54 shares during the period. 33.99% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:GOOGL traded down $10.54 during midday trading on Wednesday, reaching $1,260.05. The stock had a trading volume of 836,768 shares, compared to its average volume of 1,535,778. The firm has a market cap of $875.97 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping the consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The business had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. During the same period in the previous year, the firm earned $9.70 EPS. As a group, analysts expect that Alphabet Inc will post 47.31 earnings per share for the current fiscal year.

Several analysts have recently commented on GOOGL shares. Canaccord Genuity upgraded shares of Alphabet from a “hold” rating to a “buy” rating and raised their price objective for the company from $1,140.00 to $1,250.00 in a research report on Thursday, January 3rd. Zacks Investment Research downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 3rd. Pivotal Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and lifted their price target for the company from $1,010.00 to $1,240.00 in a report on Monday, January 7th. ValuEngine downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet in a report on Monday, January 14th. Two analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,329.91.

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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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