Clarus Wealth Advisors Decreases Stake in Alphabet Inc (NASDAQ:GOOGL)

Clarus Wealth Advisors lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 383 shares of the information services provider’s stock after selling 22 shares during the quarter. Clarus Wealth Advisors’ holdings in Alphabet were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Alphabet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock worth $24,402,449,000 after buying an additional 302,354 shares during the last quarter. Invesco Ltd. lifted its position in shares of Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after buying an additional 1,285,824 shares during the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 0.9% during the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock worth $4,197,956,000 after buying an additional 33,408 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after buying an additional 3,391,353 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Alphabet by 3.0% during the 2nd quarter. Morgan Stanley now owns 2,301,237 shares of the information services provider’s stock worth $2,491,779,000 after buying an additional 66,773 shares during the last quarter. Institutional investors own 33.50% of the company’s stock.

GOOGL traded up $5.15 during trading on Friday, hitting $1,214.62. The stock had a trading volume of 840,580 shares, compared to its average volume of 1,311,059. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The firm has a market capitalization of $842.22 billion, a P/E ratio of 25.57, a PEG ratio of 1.40 and a beta of 0.99. The company’s 50-day moving average price is $1,206.08 and its 200 day moving average price is $1,174.07. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, equities analysts expect that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Cowen set a $1,500.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Needham & Company LLC set a $1,350.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $1,287.00 target price on shares of Alphabet in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, Bank of America set a $1,450.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,375.78.

About Alphabet

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.

Read More: What is the return on assets (ROA) ratio?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.