Coastline Trust Co Has $4.12 Million Position in Alphabet Inc. (GOOGL)

Jun 17, 2017, 01:08
Coastline Trust Co Has $4.12 Million Position in Alphabet Inc. (GOOGL)

USA technology stocks slid again on Thursday, led by declines in heavyweights Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O), as investors continued a recent move away from the year's best-performing sector. (NASDAQ:GOOGL) in a research note published on Monday, May 22nd. They now have a $1,150.00 target price on the information services provider's stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. Vetr cut Alphabet from a "hold" rating to a "sell" rating and set a $802.48 price objective for the company.in a report on Monday, February 20th. The firm earned "Overweight" rating on Wednesday, August 12 by Morgan Stanley.

Shares of Alphabet have gained 9.2% in the past three months, compared with the S&P 500's SPX, -0.49% gain of 1.8%.

Among 41 analysts covering Google (NASDAQ:GOOGL), 37 have Buy rating, 0 Sell and 4 Hold. On Friday, October 23 the stock rating was maintained by B. Riley & Co with "Buy". The Nasdaq Composite lost 2.3% from Friday until Monday before slightly recovering during Wednesday's trading session.

In other news, SVP David C. Drummond sold 2,000 shares of the company's stock in a transaction on Wednesday, April 12th. $903.97's average target is -5.85% below currents $960.18 stock price. Alphabet has a 52-week low of $672.66 and a 52-week high of $1,008.61.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 27th. Laurel Wealth Advisors Inc. now owns 1,266 shares of the information services provider's stock valued at $1,073,000 after buying an additional 202 shares in the last quarter. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet Inc (NASDAQ:GOOGL) has risen 33.46% since June 15, 2016 and is uptrending. During the same quarter in the previous year, the company earned $7.50 earnings per share.

TRADEMARK VIOLATION WARNING: This article was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another website, it was stolen and reposted in violation of US and global trademark and copyright law. The legal version of this story can be accessed at [[permalink]]. Institutional investors and hedge funds own 35.09% of the company's stock. Cambridge Advisors Inc. raised its position in shares of Alphabet by 0.4% in the first quarter. Blankinship & Foster LLC now owns 535 shares of the information services provider's stock valued at $454,000 after buying an additional 15 shares in the last quarter. Finally, Kissinger Financial Services LLC bought a new position in shares of Alphabet during the third quarter worth $376,000. Clearbridge Investments LLC boosted its stake in shares of Alphabet by 7.7% in the first quarter.

Covenant Asset Management LLC decreased its position in Alphabet Inc. Modera Wealth Management LLC now owns 575 shares of the information services provider's stock valued at $477,000 after buying an additional 3 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $612,676,000. BlackRock Institutional Trust Company N.A. now owns 7,897,508 shares of the information services provider's stock valued at $6,138,654,000 after buying an additional 138,807 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC boosted its stake in shares of Alphabet by 3.2% in the fourth quarter.

Tech stocks remain to have the biggest valuations in the market particularly companies such as Apple, Alphabet, Amazon, Facebook, and Microsoft who has sent the S&P 500 up by 40% this year and comprises around 13% of the index. 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.

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