Alphabet Inc (GOOGL) Position Lowered by Cardinal Capital Management

Cardinal Capital Management decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,717 shares of the company’s stock after selling 24 shares during the period. Cardinal Capital Management’s holdings in Alphabet were worth $2,892,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GOOGL. Taylor Wealth Management Partners boosted its position in shares of Alphabet by 5.0% in the fourth quarter. Taylor Wealth Management Partners now owns 84 shares of the company’s stock valued at $65,000 after buying an additional 4 shares during the period. Lenox Wealth Advisors boosted its position in shares of Alphabet by 6.8% in the fourth quarter. Lenox Wealth Advisors now owns 312 shares of the company’s stock valued at $243,000 after buying an additional 20 shares during the period. Hartford Financial Management Inc. boosted its position in shares of Alphabet by 4.7% in the fourth quarter. Hartford Financial Management Inc. now owns 333 shares of the company’s stock valued at $259,000 after buying an additional 15 shares during the period. Baystate Wealth Management boosted its position in shares of Alphabet by 3.1% in the fourth quarter. Baystate Wealth Management now owns 335 shares of the company’s stock valued at $261,000 after buying an additional 10 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Alphabet during the fourth quarter valued at $261,000.

Shares of Alphabet Inc (NASDAQ:GOOGL) traded down 1.55% during midday trading on Thursday, reaching $695.86. The company had a trading volume of 784,551 shares. The company’s 50 day moving average price is $743.10 and its 200 day moving average price is $711.15. The stock has a market capitalization of $478.30 billion and a PE ratio of 29.26. Alphabet Inc has a 52-week low of $529.00 and a 52-week high of $810.35.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 1st. The company reported $8.67 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.57. During the same period in the previous year, the firm earned $6.76 EPS. Equities research analysts expect that Alphabet Inc will post $34.51 earnings per share for the current year.

GOOGL has been the topic of a number of recent analyst reports. Axiom Securities raised their target price on shares of Alphabet from $1,000.00 to $1,001.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. B. Riley restated a “buy” rating and set a $930.00 target price (up previously from $853.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Wedbush restated a “hold” rating on shares of Alphabet in a research note on Sunday, January 31st. Deutsche Bank restated a “buy” rating and set a $1,080.00 target price (up previously from $900.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Finally, Canaccord Genuity raised their target price on shares of Alphabet from $850.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Three equities research analysts have rated the stock with a hold rating, forty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $887.43.

Alphabet Inc (NASDAQ:GOOGL) is a collection of Companies. The Company’s collection include Calico, Google’s health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X.

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Thursday, February 11th, 2016 EN

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