Osterweis Capital Management Inc. Trims Holdings in Alphabet Inc (GOOGL)

Osterweis Capital Management Inc. reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,749 shares of the information services provider’s stock after selling 365 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Alphabet were worth $9,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Summit Trail Advisors LLC boosted its position in Alphabet by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after acquiring an additional 17,925,496 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Alphabet by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after acquiring an additional 1,387,599 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Alphabet by 78.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock valued at $1,362,458,000 after acquiring an additional 575,882 shares in the last quarter. Private Advisor Group LLC boosted its position in Alphabet by 6,916.2% during the 2nd quarter. Private Advisor Group LLC now owns 350,598 shares of the information services provider’s stock valued at $395,965,000 after acquiring an additional 345,601 shares in the last quarter. Finally, OZ Management LP bought a new stake in Alphabet during the 1st quarter valued at $207,428,000. Institutional investors own 30.54% of the company’s stock.

Shares of GOOGL opened at $1,046.58 on Friday. Alphabet Inc has a one year low of $984.00 and a one year high of $1,291.44. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The stock has a market cap of $750.21 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.33 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. As a group, equities research analysts expect that Alphabet Inc will post 45.02 earnings per share for the current year.

Several brokerages have issued reports on GOOGL. Monness Crespi & Hardt dropped their target price on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Macquarie reaffirmed a “buy” rating and set a $1,250.00 target price on shares of Alphabet in a research report on Wednesday, August 15th. MKM Partners increased their target price on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,330.16.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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