Selz Capital LLC Lowers Stake in Alphabet Inc (NASDAQ:GOOGL)

Selz Capital LLC lessened its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 52.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the information services provider’s stock after selling 11,700 shares during the period. Alphabet makes up 3.1% of Selz Capital LLC’s portfolio, making the stock its 11th biggest position. Selz Capital LLC’s holdings in Alphabet were worth $11,369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Lodestar Investment Counsel LLC IL raised its position in shares of Alphabet by 0.8% during the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after purchasing an additional 34 shares during the period. Shellback Capital LP bought a new stake in shares of Alphabet during the 4th quarter worth $6,270,000. Exane Derivatives lifted its holdings in shares of Alphabet by 49.3% in the fourth quarter. Exane Derivatives now owns 790 shares of the information services provider’s stock valued at $825,000 after purchasing an additional 261 shares in the last quarter. J.P. Marvel Investment Advisors LLC raised its holdings in shares of Alphabet by 1.5% during the first quarter. J.P. Marvel Investment Advisors LLC now owns 10,258 shares of the information services provider’s stock worth $12,073,000 after acquiring an additional 155 shares in the last quarter. Finally, OTA Financial Group L.P. bought a new position in Alphabet during the first quarter valued at about $38,962,000. 33.93% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ GOOGL traded down $2.80 during trading hours on Thursday, hitting $1,215.40. 750,869 shares of the stock were exchanged, compared to its average volume of 1,543,502. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The firm has a market cap of $862.14 billion, a P/E ratio of 25.58, a PEG ratio of 1.39 and a beta of 0.96. The firm has a fifty day moving average of $1,132.20. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Equities analysts anticipate that Alphabet Inc will post 51.61 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on GOOGL shares. Susquehanna Bancshares boosted their price target on shares of Alphabet to $1,550.00 in a report on Friday, July 26th. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price target on the stock in a research report on Monday, July 8th. Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Argus reaffirmed a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a report on Wednesday, May 1st. Finally, Cowen set a $1,500.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,368.76.

About Alphabet

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.

Further Reading: Golden Cross

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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