Clarendon Private LLC Has $802,000 Stake in Alphabet Inc. $GOOGL

Clarendon Private LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,549 shares of the information services provider’s stock after selling 1,413 shares during the period. Clarendon Private LLC’s holdings in Alphabet were worth $802,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Invesco Ltd. boosted its stake in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG boosted its stake in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $251.69 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $257.33. The business has a 50 day simple moving average of $234.60 and a 200 day simple moving average of $193.72.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. 11.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Stifel Nicolaus increased their target price on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Rosenblatt Securities increased their target price on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer increased their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $259.12.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.