Confluence Investment Management LLC Reduces Holdings in Alphabet Inc (GOOGL)

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Confluence Investment Management LLC lowered its stake in Alphabet Inc (NASDAQ:GOOGL) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,055 shares of the information services provider’s stock after selling 158 shares during the period. Confluence Investment Management LLC’s holdings in Alphabet were worth $2,481,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pillar Pacific Capital Management LLC raised its stake in Alphabet by 0.6% during the 3rd quarter. Pillar Pacific Capital Management LLC now owns 10,182 shares of the information services provider’s stock valued at $12,291,000 after purchasing an additional 65 shares during the period. Exane Derivatives raised its stake in Alphabet by 78.7% during the 3rd quarter. Exane Derivatives now owns 529 shares of the information services provider’s stock valued at $639,000 after purchasing an additional 233 shares during the period. Ingalls & Snyder LLC raised its stake in Alphabet by 68.4% during the 3rd quarter. Ingalls & Snyder LLC now owns 16,945 shares of the information services provider’s stock valued at $20,454,000 after purchasing an additional 6,885 shares during the period. Dearborn Partners LLC raised its stake in Alphabet by 23.5% during the 3rd quarter. Dearborn Partners LLC now owns 892 shares of the information services provider’s stock valued at $1,077,000 after purchasing an additional 170 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. raised its stake in Alphabet by 6.7% during the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 2,943 shares of the information services provider’s stock valued at $3,552,000 after purchasing an additional 186 shares during the period. 33.32% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the stock. Macquarie reissued a “buy” rating and set a $1,250.00 target price on shares of Alphabet in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Wedbush assumed coverage on shares of Alphabet in a research note on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 target price on the stock. Credit Suisse Group boosted their target price on shares of Alphabet from $1,375.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. Finally, ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Three research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,344.59.

Alphabet stock opened at $1,064.47 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,291.44. The firm has a market cap of $752.70 billion, a PE ratio of 33.21, a P/E/G ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the consensus estimate of $10.54 by $2.52. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The business had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. As a group, equities analysts expect that Alphabet Inc will post 45.32 earnings per share for the current fiscal year.

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Alphabet 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.

Read More: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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