Is there a Bearish outlook for Alphabet Inc (NASDAQ:GOOGL) this week?

Is there a Bearish outlook for Alphabet Inc (NASDAQ:GOOGL) this week?

Is there a Bearish outlook for Alphabet Inc (NASDAQ:GOOGL) this week?

The firm owned 3,121 shares of the information services provider's stock after selling 585 shares during the period. Alphabet accounts for about 1.2% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 14th largest position. Concorde Asset Management LLC bought a new position in Alphabet during the second quarter valued at about $283,000. Maple Capital Management Inc. boosted its position in Alphabet by 3.4% in the second quarter. They presently have a $980.00 price objective on the information services provider's stock, down from their prior price objective of $990.00. Farmers National Bank boosted its stake in shares of Alphabet by 15.0% in the first quarter. Peoples Financial Services CORP. now owns 1,680 shares of the information services provider's stock valued at $1,527,000 after buying an additional 100 shares during the period. Beech Hill Advisors Inc. increased its position in Alphabet by 6.3% in the second quarter. Waratah Capital Advisors Ltd. purchased a new position in shares of Alphabet during the fourth quarter worth about $8,203,000.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FBR Capital maintained Alphabet Inc (NASDAQ:GOOGL) rating on Friday, October 23. (NASDAQ GOOGL) opened at 986.95 on Wednesday. Following the completion of the transaction, the director now directly owns 5,579 shares in the company, valued at $5,198,958.52. The company has a market cap of $667.81 billion, a PE ratio of 32.62 and a beta of 0.94. Inc. boosted its stake in shares of Alphabet by 39.6% in the second quarter. The stock has a 50 day moving average of $948.11 and a 200-day moving average of $873.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $7.24 by $0.49. The company had revenue of $20.12 billion for the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same quarter in the previous year, the firm earned $7.50 earnings per share. On average, analysts predict that Alphabet will post $33.95 earnings per share for the current year.

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Other research analysts have also issued research reports about the stock. Though it has been subdued by Amazon.com (AMZN) and Microsoft (MSFT) in terms of market share, Alphabet's Google is one of the notable cloud infrastructure vendors, according to Synergy Research Group. Finally, Cowen and Company reaffirmed an outperform rating and set a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, April 19th. BMO Capital Markets reaffirmed an outperform rating and set a $1,005.00 price target on shares of Alphabet in a research report on Monday, March 27th. Loop Capital started coverage on Alphabet in a research note on Friday, March 31st. Instinet reissued a "buy" rating on shares of Alphabet in a research report on Friday, June 2nd. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider's stock worth $156,000 after buying an additional 157 shares during the period. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company's stock. Finally, Vetr raised shares of Alphabet from a "sell" rating to a "hold" rating and set a $907.74 price objective for the company in a report on Wednesday, May 17th.

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