Cornerstone Wealth Management LLC Sells 61 Shares of Alphabet Inc Class A (NASDAQ:GOOGL)

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Cornerstone Wealth Management LLC lowered its stake in shares of Alphabet Inc Class A (NASDAQ:GOOGL) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,199 shares of the information services provider’s stock after selling 61 shares during the period. Cornerstone Wealth Management LLC’s holdings in Alphabet Inc Class A were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Legal & General Group Plc grew its holdings in shares of Alphabet Inc Class A by 2.0% in the third quarter. Legal & General Group Plc now owns 1,471,048 shares of the information services provider’s stock valued at $1,432,311,000 after purchasing an additional 29,217 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Alphabet Inc Class A by 13.8% in the fourth quarter. Bank of Montreal Can now owns 1,188,378 shares of the information services provider’s stock valued at $1,251,837,000 after purchasing an additional 144,201 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Alphabet Inc Class A by 32.2% in the third quarter. Edgewood Management LLC now owns 1,120,023 shares of the information services provider’s stock valued at $1,090,589,000 after purchasing an additional 272,851 shares in the last quarter. Swiss National Bank grew its holdings in shares of Alphabet Inc Class A by 0.3% in the fourth quarter. Swiss National Bank now owns 1,117,989 shares of the information services provider’s stock valued at $1,177,690,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alphabet Inc Class A by 3.9% in the fourth quarter. Fisher Asset Management LLC now owns 1,105,876 shares of the information services provider’s stock valued at $1,164,930,000 after purchasing an additional 41,538 shares in the last quarter. Hedge funds and other institutional investors own 33.36% of the company’s stock.

Several research analysts have commented on the stock. KeyCorp reaffirmed an “overweight” rating and set a $1,230.00 price objective (down from $1,280.00) on shares of Alphabet Inc Class A in a research note on Tuesday, April 24th. Canaccord Genuity reaffirmed a “hold” rating on shares of Alphabet Inc Class A in a research note on Tuesday, April 24th. Vetr raised shares of Alphabet Inc Class A from a “buy” rating to a “strong-buy” rating and set a $1,156.80 price objective for the company in a research note on Tuesday, April 10th. TheStreet raised shares of Alphabet Inc Class A from a “c+” rating to an “a-” rating in a research note on Monday, April 23rd. Finally, Monness Crespi & Hardt assumed coverage on shares of Alphabet Inc Class A in a research note on Wednesday, April 11th. They set a “buy” rating and a $1,280.00 price objective for the company. Five research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet Inc Class A has a consensus rating of “Buy” and an average target price of $1,201.44.

Shares of GOOGL stock traded down $3.96 on Wednesday, hitting $1,144.23. The stock had a trading volume of 1,707,949 shares, compared to its average volume of 2,113,701. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The company has a market capitalization of $792.86 billion, a P/E ratio of 35.70, a PEG ratio of 1.63 and a beta of 1.06. Alphabet Inc Class A has a one year low of $915.31 and a one year high of $1,198.00.

Alphabet Inc Class A (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.21 by $0.72. The firm had revenue of $24.86 billion during the quarter, compared to the consensus estimate of $24.20 billion. Alphabet Inc Class A had a return on equity of 15.58% and a net margin of 14.19%. During the same period in the previous year, the company posted $7.73 earnings per share. analysts anticipate that Alphabet Inc Class A will post 40.7 earnings per share for the current fiscal year.

About Alphabet Inc Class A

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.

Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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