Alphabet Inc. (NASDAQ:GOOGL) is Equitable Trust Co.’s 2nd Largest Position

Equitable Trust Co. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 24,577 shares of the information services provider’s stock after selling 529 shares during the quarter. Alphabet comprises approximately 3.8% of Equitable Trust Co.’s holdings, making the stock its 2nd largest holding. Equitable Trust Co.’s holdings in Alphabet were worth $50,690,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Management Partners LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $267,000. Parisi Gray Wealth Management boosted its stake in shares of Alphabet by 1.5% during the 4th quarter. Parisi Gray Wealth Management now owns 1,778 shares of the information services provider’s stock worth $3,116,000 after acquiring an additional 26 shares in the last quarter. FWL Investment Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $230,000. Schnieders Capital Management LLC increased its stake in shares of Alphabet by 0.3% in the 4th quarter. Schnieders Capital Management LLC now owns 4,108 shares of the information services provider’s stock valued at $7,200,000 after purchasing an additional 14 shares in the last quarter. Finally, Sage Mountain Advisors LLC acquired a new position in Alphabet in the 4th quarter worth about $449,000. 34.46% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. Credit Suisse Group upped their target price on Alphabet from $2,360.00 to $2,500.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. JMP Securities increased their price objective on shares of Alphabet from $2,400.00 to $2,850.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Wells Fargo & Company boosted their target price on shares of Alphabet from $2,650.00 to $2,850.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Citigroup lowered shares of Alphabet from a “buy” rating to a “neutral” rating in a research note on Monday, May 10th. Finally, Canaccord Genuity boosted their price objective on Alphabet from $2,600.00 to $2,800.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $2,516.55.

Alphabet stock traded down $13.72 during midday trading on Friday, reaching $2,421.41. The company’s stock had a trading volume of 62,822 shares, compared to its average volume of 1,687,494. The stock has a market cap of $1.62 trillion, a P/E ratio of 32.50, a P/E/G ratio of 1.48 and a beta of 1.01. The company has a current ratio of 3.10, a quick ratio of 3.09 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average is $2,307.95. Alphabet Inc. has a fifty-two week low of $1,351.65 and a fifty-two week high of $2,436.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.82 by $10.47. The company had revenue of $45.60 billion for the quarter, compared to analyst estimates of $42.46 billion. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. During the same period in the prior year, the firm posted $9.87 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 89.46 earnings per share for the current year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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