Paragon Capital Management LLC reduced its position in Alphabet Inc (NASDAQ:GOOGL) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103 shares of the information services provider’s stock after selling 30 shares during the period. Paragon Capital Management LLC’s holdings in Alphabet were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $37,000. Belvedere Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $38,000. Thor Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $45,000. Lipe & Dalton purchased a new stake in shares of Alphabet in the second quarter valued at about $49,000. Finally, Smart Money Group LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $61,000. Hedge funds and other institutional investors own 34.09% of the company’s stock.
GOOGL stock traded down $37.94 during mid-day trading on Friday, hitting $1,153.58. 1,446,222 shares of the company were exchanged, compared to its average volume of 1,800,484. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $826.24 billion, a P/E ratio of 24.28, a PEG ratio of 1.31 and a beta of 0.97. The business has a fifty day simple moving average of $1,171.86 and a 200-day simple moving average of $1,159.87. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. Research analysts predict that Alphabet Inc will post 51.94 EPS for the current year.
A number of equities research analysts recently issued reports on GOOGL shares. FBN Securities set a $1,400.00 price objective on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. KeyCorp reissued an “overweight” rating and issued a $1,516.00 price objective (up previously from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Morgan Stanley upped their price objective on shares of Alphabet from $1,400.00 to $1,450.00 and gave the company an “overweight” rating in a report on Friday, July 26th. MKM Partners reissued a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a report on Friday, August 2nd. Finally, Pivotal Research started coverage on shares of Alphabet in a report on Wednesday, May 29th. They issued a “hold” rating and a $1,250.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,371.05.
Alphabet Company 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.
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