Alphabet Inc (GOOGL) Holdings Reduced by RKL Wealth Management LLC

RKL Wealth Management LLC lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,477 shares of the information services provider’s stock after selling 260 shares during the period. Alphabet accounts for 2.2% of RKL Wealth Management LLC’s portfolio, making the stock its 6th largest position. RKL Wealth Management LLC’s holdings in Alphabet were worth $6,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue acquired a new position in shares of Alphabet in the 2nd quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $108,000. Parkside Financial Bank & Trust boosted its stake in Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares during the period. Lloyds Banking Group plc acquired a new position in Alphabet in the 2nd quarter worth $133,000. Finally, Farmers National Bank boosted its stake in Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after purchasing an additional 4 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc (GOOGL) opened at $1,049.38 on Friday. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $717,534.88, a PE ratio of 34.57, a PEG ratio of 1.73 and a beta of 0.89. Alphabet Inc has a fifty-two week low of $789.62 and a fifty-two week high of $1,080.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same period in the prior year, the firm earned $9.06 EPS. analysts predict that Alphabet Inc will post 32.34 earnings per share for the current year.

A number of equities analysts recently weighed in on GOOGL shares. Goldman Sachs Group upped their target price on shares of Alphabet from $1,125.00 to $1,175.00 in a research note on Friday, October 27th. SunTrust Banks started coverage on shares of Alphabet in a research note on Tuesday, August 15th. They issued a “buy” rating and a $1,100.00 target price for the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Thursday, September 21st. Citigroup reaffirmed a “buy” rating and issued a $1,180.00 target price on shares of Alphabet in a research note on Wednesday, September 20th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Alphabet in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1,089.17.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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