Exchange Capital Management Inc. Has $8.06 Million Stake in Alphabet Inc Class A (GOOGL)

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Exchange Capital Management Inc. lessened its position in Alphabet Inc Class A (NASDAQ:GOOGL) by 2.1% in the second quarter, HoldingsChannel.com reports. The firm owned 7,139 shares of the information services provider’s stock after selling 152 shares during the quarter. Alphabet Inc Class A accounts for approximately 2.4% of Exchange Capital Management Inc.’s holdings, making the stock its 7th biggest holding. Exchange Capital Management Inc.’s holdings in Alphabet Inc Class A were worth $8,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Alphabet Inc Class A by 1.5% during the first quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after buying an additional 269,848 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Alphabet Inc Class A by 134,676.9% during the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after buying an additional 17,925,496 shares during the last quarter. American Century Companies Inc. raised its stake in Alphabet Inc Class A by 1.0% during the first quarter. American Century Companies Inc. now owns 2,266,027 shares of the information services provider’s stock valued at $2,350,187,000 after buying an additional 23,524 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Alphabet Inc Class A by 115,058.0% during the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after buying an additional 1,387,599 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Alphabet Inc Class A by 78.1% during the first quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock valued at $1,362,458,000 after buying an additional 575,882 shares during the last quarter. Institutional investors own 33.53% of the company’s stock.

Shares of GOOGL opened at $1,105.18 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13. Alphabet Inc Class A has a one year low of $977.08 and a one year high of $1,291.44. The firm has a market capitalization of $769.15 billion, a P/E ratio of 34.48, a PEG ratio of 1.39 and a beta of 1.10.

Alphabet Inc Class A (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. The company had revenue of $26.24 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the previous year, the company posted $5.01 earnings per share. Equities research analysts predict that Alphabet Inc Class A will post 42.85 EPS for the current fiscal year.

A number of analysts have commented on the company. Monness Crespi & Hardt lifted their target price on Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research lowered Alphabet Inc Class A from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Canaccord Genuity reissued a “hold” rating and issued a $1,170.00 target price (up previously from $1,050.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. ValuEngine raised Alphabet Inc Class A from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,250.00 target price (up previously from $1,200.00) on shares of Alphabet Inc Class A in a report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,324.57.

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

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