Great Lakes Advisors LLC Sells 767 Shares of Alphabet Inc. (GOOGL)

Great Lakes Advisors LLC Sells 767 Shares of Alphabet Inc. (GOOGL)

Great Lakes Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 15.4% during the third quarter, Holdings Channel reports. The fund owned 4,204 shares of the company’s stock after selling 767 shares during the period. Great Lakes Advisors LLC’s holdings in Alphabet were worth $3,380,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the last quarter. Cedar Wealth Management LLC boosted its position in shares of Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the company’s stock worth $103,000 after buying an additional 7 shares during the last quarter. Archford Capital Strategies LLC boosted its position in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the last quarter. Roble Belko & Company Inc boosted its position in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the last quarter. Finally, MCF Advisors LLC boosted its position in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the last quarter. 35.05% of the stock is owned by institutional investors.

Alphabet Inc. (NASDAQ:GOOGL) traded down 0.85% during trading on Friday, hitting $849.69. 216,463 shares of the stock traded hands. Alphabet Inc. has a one year low of $672.66 and a one year high of $867.00. The company’s 50 day moving average is $817.84 and its 200 day moving average is $798.18. The company has a market capitalization of $585.64 billion, a P/E ratio of 31.10 and a beta of 0.89.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, January 26th. The company reported $9.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.64 by $0.28. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. During the same quarter in the prior year, the firm earned $8.67 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post $34.48 EPS for the current fiscal year.

GOOGL has been the topic of several research reports. B. Riley reissued a “buy” rating and issued a $990.00 price objective on shares of Alphabet in a research report on Friday, October 28th. Canaccord Genuity raised their price objective on Alphabet from $925.00 to $950.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reissued a “top pick” rating on shares of Alphabet in a research report on Friday. Stifel Nicolaus cut their price objective on Alphabet from $1,050.00 to $950.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Morgan Stanley raised their price objective on Alphabet to $1,000.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, forty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $957.07.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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