The Ameriprise Financial Inc. reaches $1,557,675,000 position of Alphabet Inc. (GOOGL)

The Ameriprise Financial Inc. reaches $1,557,675,000 position  of Alphabet Inc. (GOOGL)

Ameriprise Financial Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,214,609 shares of the company’s stock after selling 13,768 shares during the period. Alphabet accounts for about 0.9% of Ameriprise Financial Inc.’s holdings, making the stock its 15th largest position. Ameriprise Financial Inc. owned about 0.32% of Alphabet worth $1,557,675,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Amarillo National Bank raised its stake in Alphabet by 0.4% in the second quarter. Amarillo National Bank now owns 1,275 shares of the company’s stock worth $897,000 after buying an additional 5 shares during the last quarter. Peoples Financial Services CORP. raised its stake in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. First Financial Bank N.A. Trust Division raised its stake in Alphabet by 0.7% in the second quarter. First Financial Bank N.A. Trust Division now owns 900 shares of the company’s stock worth $633,000 after buying an additional 6 shares during the last quarter. JNBA Financial Advisors raised its stake in Alphabet by 1.3% in the second quarter. JNBA Financial Advisors now owns 560 shares of the company’s stock worth $394,000 after buying an additional 7 shares during the last quarter. Finally, Foothills Asset Management Ltd. raised its stake in Alphabet by 0.4% in the second quarter. Foothills Asset Management Ltd. now owns 2,363 shares of the company’s stock worth $1,662,000 after buying an additional 9 shares during the last quarter. 34.12% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Inc. (NASDAQ:GOOGL) remained flat at $809.57 during mid-day trading on Wednesday. 290,432 shares of the stock traded hands. The firm has a market cap of $556.40 billion, a price-to-earnings ratio of 31.37 and a beta of 1.00. Alphabet Inc. has a 52-week low of $670.70 and a 52-week high of $819.86. The company’s 50-day moving average is $800.52 and its 200 day moving average is $760.57.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities research analysts anticipate that Alphabet Inc. will post $34.11 earnings per share for the current fiscal year.

A number of analysts have issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, June 28th. Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a research note on Sunday, July 10th. Robert W. Baird reissued a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $920.00 price target on shares of Alphabet in a research note on Sunday, July 17th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research note on Sunday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $926.50.

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