Today: Valicenti Advisory Services Inc. cuts its investment of stake in Alphabet Inc. (GOOGL)

Today: Valicenti Advisory Services Inc. cuts its investment of stake in Alphabet Inc. (GOOGL)

Valicenti Advisory Services Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,530 shares of the company’s stock after selling 15 shares during the period. Alphabet makes up approximately 2.9% of Valicenti Advisory Services Inc.’s holdings, making the stock its 13th largest position. Valicenti Advisory Services Inc.’s holdings in Alphabet were worth $4,446,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the last quarter. Archford Capital Strategies LLC raised its position in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the last quarter. Roble Belko & Company Inc raised its position in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the last quarter. MCF Advisors LLC raised its position in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new position in shares of Alphabet during the second quarter worth approximately $117,000. Institutional investors and hedge funds own 34.63% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.71% during mid-day trading on Monday, reaching $785.79. 2,572,354 shares of the company were exchanged. Alphabet Inc. has a 1-year low of $672.66 and a 1-year high of $839.00. The stock has a market capitalization of $541.60 billion, a price-to-earnings ratio of 28.76 and a beta of 0.92. The stock’s 50-day moving average price is $800.21 and its 200-day moving average price is $771.86.

Several equities analysts recently commented on GOOGL shares. Mizuho reaffirmed a “buy” rating and set a $1,020.00 target price (up previously from $1,010.00) on shares of Alphabet in a report on Sunday, July 31st. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Bank of America Corp. reaffirmed a “buy” rating and set a $960.00 target price on shares of Alphabet in a report on Monday, September 26th. MKM Partners set a $935.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Monday, November 14th. Finally, Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $834.59 target price on the stock in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target of $940.44.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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