Blume Capital Management Inc. Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Blume Capital Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530 shares of the information services provider’s stock after selling 19 shares during the period. Blume Capital Management Inc.’s holdings in Alphabet were worth $1,294,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Resonant Capital Advisors LLC increased its position in Alphabet by 1.5% in the 2nd quarter. Resonant Capital Advisors LLC now owns 269 shares of the information services provider’s stock worth $657,000 after buying an additional 4 shares during the period. Allied Investment Advisors LLC increased its position in Alphabet by 3.5% in the 2nd quarter. Allied Investment Advisors LLC now owns 119 shares of the information services provider’s stock worth $291,000 after buying an additional 4 shares during the period. Capital Investment Counsel Inc increased its position in Alphabet by 0.3% in the 2nd quarter. Capital Investment Counsel Inc now owns 1,381 shares of the information services provider’s stock worth $3,372,000 after buying an additional 4 shares during the period. New Potomac Partners LLC increased its position in Alphabet by 2.3% in the 2nd quarter. New Potomac Partners LLC now owns 176 shares of the information services provider’s stock worth $430,000 after buying an additional 4 shares during the period. Finally, Atlas Private Wealth Advisors increased its position in Alphabet by 2.9% in the 2nd quarter. Atlas Private Wealth Advisors now owns 144 shares of the information services provider’s stock worth $352,000 after buying an additional 4 shares during the period. Institutional investors own 34.43% of the company’s stock.

NASDAQ GOOGL traded down $13.20 on Wednesday, reaching $2,837.69. The company had a trading volume of 18,485 shares, compared to its average volume of 1,521,662. The stock’s 50 day moving average is $2,721.31 and its 200-day moving average is $2,428.14. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.83 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $1,402.15 and a 52 week high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The company had revenue of $50.95 billion during the quarter, compared to the consensus estimate of $46.07 billion. During the same period in the prior year, the company earned $10.13 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 101.86 EPS for the current year.

Several analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. KeyCorp lifted their price objective on Alphabet from $2,681.00 to $3,071.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. KGI Securities assumed coverage on Alphabet in a report on Wednesday, June 2nd. They set an “outperform” rating and a $3,000.00 price objective on the stock. JMP Securities lifted their price objective on Alphabet from $2,850.00 to $3,100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating and set a $2,818.00 price objective on the stock. in a report on Tuesday, June 29th. Three investment analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $2,841.72.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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