Wade G W & Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,451 shares of the company’s stock after buying an additional 220 shares during the period. Wade G W & Inc.’s holdings in Alphabet were worth $1,021,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in GOOGL. SevenBridge Financial Group LLC bought a new stake in Alphabet during the first quarter valued at approximately $120,000. Dividend Assets Capital LLC bought a new stake in Alphabet during the second quarter valued at approximately $120,000. Peoples Financial Services CORP. boosted its stake in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock valued at $155,000 after buying an additional 5 shares in the last quarter. Cacti Asset Management LLC bought a new stake in Alphabet during the second quarter valued at approximately $162,000. Finally, Founders Capital Management LLC bought a new stake in Alphabet during the second quarter valued at approximately $196,000. 34.12% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.84% during midday trading on Thursday, hitting $803.28. The company had a trading volume of 944,373 shares. The firm has a 50-day moving average price of $800.44 and a 200-day moving average price of $757.46. The company has a market cap of $552.07 billion, a price-to-earnings ratio of 31.12 and a beta of 0.98. Alphabet Inc. has a 12 month low of $631.12 and a 12 month high of $819.06.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Equities analysts anticipate that Alphabet Inc. will post $34.26 EPS for the current year.
GOOGL has been the topic of several recent research reports. Pivotal Research reiterated a “buy” rating and issued a $1,000.00 price target (up from $970.00) on shares of Alphabet in a research note on Monday, July 11th. Stifel Nicolaus lifted their price target on shares of Alphabet from $888.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $782.77 price target on the stock. in a research note on Tuesday, July 19th. Morgan Stanley lifted their price target on shares of Alphabet from $850.00 to $865.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating and issued a $1,000.00 price target (up from $925.00) on shares of Alphabet in a research note on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $923.72.
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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