WP Advisors LLC Trims Stake in Alphabet Inc (NASDAQ:GOOGL)

WP Advisors LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322 shares of the information services provider’s stock after selling 75 shares during the quarter. WP Advisors LLC’s holdings in Alphabet were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Thoroughbred Financial Services LLC grew its holdings in Alphabet by 205,910.9% in the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after purchasing an additional 3,391,353 shares during the period. Fisher Asset Management LLC grew its holdings in Alphabet by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 1,322,249 shares of the information services provider’s stock worth $1,381,697,000 after purchasing an additional 51,160 shares during the period. Packer & Co Ltd grew its holdings in Alphabet by 4,018.6% in the second quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock worth $25,202,000 after purchasing an additional 935,325 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Alphabet by 3.3% during the first quarter. Clearbridge Investments LLC now owns 613,338 shares of the information services provider’s stock valued at $721,831,000 after buying an additional 19,842 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Alphabet by 0.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 534,707 shares of the information services provider’s stock valued at $558,747,000 after buying an additional 4,472 shares during the last quarter. Institutional investors own 33.93% of the company’s stock.

Alphabet stock traded down $15.46 during midday trading on Friday, reaching $1,196.32. 1,744,887 shares of the company traded hands, compared to its average volume of 1,701,523. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97. The stock has a market cap of $841.27 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The company’s 50 day simple moving average is $1,137.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Sell-side analysts forecast that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.

GOOGL has been the topic of a number of recent analyst reports. Pivotal Research initiated coverage on shares of Alphabet in a report on Wednesday, May 29th. They set a “hold” rating and a $1,250.00 price target on the stock. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. JMP Securities increased their price target on shares of Alphabet to $1,450.00 and gave the company an “outperform” rating in a report on Monday, July 29th. KeyCorp reiterated an “overweight” rating and set a $1,516.00 price target (up previously from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Finally, Wedbush increased their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $1,371.05.

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.

Recommended Story: Asset Allocation Models, Which is Right For You?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.