Corrado Advisors LLC lessened its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,964 shares of the information services provider’s stock after selling 373 shares during the quarter. Alphabet accounts for about 7.2% of Corrado Advisors LLC’s investment portfolio, making the stock its largest holding. Corrado Advisors LLC’s holdings in Alphabet were worth $7,277,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Insight Partners LLC lifted its stake in Alphabet by 0.4% in the fourth quarter. Capital Insight Partners LLC now owns 2,554 shares of the information services provider’s stock valued at $2,669,000 after buying an additional 10 shares during the period. GFS Advisors LLC lifted its stake in Alphabet by 1.2% in the third quarter. GFS Advisors LLC now owns 2,106 shares of the information services provider’s stock valued at $2,542,000 after buying an additional 25 shares during the period. WealthPLAN Partners LLC lifted its stake in Alphabet by 2.1% in the third quarter. WealthPLAN Partners LLC now owns 1,564 shares of the information services provider’s stock valued at $1,612,000 after buying an additional 32 shares during the period. M Holdings Securities Inc. lifted its stake in Alphabet by 2.0% in the second quarter. M Holdings Securities Inc. now owns 2,096 shares of the information services provider’s stock valued at $2,367,000 after buying an additional 42 shares during the period. Finally, Waldron Private Wealth LLC lifted its stake in Alphabet by 2.5% in the third quarter. Waldron Private Wealth LLC now owns 1,711 shares of the information services provider’s stock valued at $2,065,000 after buying an additional 42 shares during the period. 42.38% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:GOOGL opened at $1,207.65 on Friday. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The stock has a market cap of $839.54 billion, a P/E ratio of 25.42, a PEG ratio of 1.48 and a beta of 1.05. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,291.44.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. The business had revenue of $31.84 billion during the quarter, compared to the consensus estimate of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period last year, the company earned $9.70 earnings per share. On average, research analysts predict that Alphabet Inc will post 47.4 earnings per share for the current year.
GOOGL has been the topic of several analyst reports. Canaccord Genuity raised Alphabet from a “hold” rating to a “buy” rating and increased their target price for the company from $1,140.00 to $1,250.00 in a research note on Thursday, January 3rd. Jefferies Financial Group set a $1,200.00 target price on Alphabet and gave the company a “buy” rating in a research note on Thursday, December 20th. Guggenheim initiated coverage on Alphabet in a research note on Thursday, December 6th. They issued a “buy” rating and a $1,330.00 target price on the stock. Nomura reissued a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a research note on Tuesday, December 4th. Finally, ValuEngine upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,314.86.
COPYRIGHT VIOLATION WARNING: “Corrado Advisors LLC Sells 373 Shares of Alphabet Inc (GOOGL)” was first posted by Highlight Press and is owned by of Highlight Press. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://highlightpress.com/2019/03/23/corrado-advisors-llc-sells-373-shares-of-alphabet-inc-googl.html.
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: Why do companies pay special dividends?
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).
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.