Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,570 shares of the information services provider’s stock after acquiring an additional 1,215 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Alphabet were worth $9,091,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Spinnaker Trust lifted its stake in Alphabet by 18.1% in the third quarter. Spinnaker Trust now owns 1,521 shares of the information services provider’s stock valued at $1,835,000 after buying an additional 233 shares in the last quarter. Stillwater Capital Advisors LLC lifted its stake in Alphabet by 0.5% in the third quarter. Stillwater Capital Advisors LLC now owns 14,984 shares of the information services provider’s stock valued at $18,087,000 after buying an additional 72 shares in the last quarter. First Midwest Bank Trust Division lifted its stake in Alphabet by 15.5% in the third quarter. First Midwest Bank Trust Division now owns 2,544 shares of the information services provider’s stock valued at $3,070,000 after buying an additional 341 shares in the last quarter. Rosenbaum Jay D. bought a new position in Alphabet in the third quarter valued at approximately $214,000. Finally, SNS Financial Group LLC lifted its stake in Alphabet by 243.4% in the third quarter. SNS Financial Group LLC now owns 1,693 shares of the information services provider’s stock valued at $2,044,000 after buying an additional 1,200 shares in the last quarter. 33.32% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on GOOGL. Macquarie reiterated a “buy” rating and issued a $1,250.00 price objective on shares of Alphabet in a report on Thursday, September 27th. Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Wedbush began coverage on shares of Alphabet in a report on Wednesday, October 17th. They issued an “outperform” rating and a $1,350.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of Alphabet from $1,375.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, October 19th. Finally, ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Four equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,342.11.
Shares of GOOGL opened at $1,078.83 on Friday. The firm has a market cap of $750.20 billion, a P/E ratio of 33.66, a PEG ratio of 1.26 and a beta of 1.00. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. The business had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. On average, analysts predict that Alphabet Inc will post 45.32 earnings per share for the current year.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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