Provident Trust Co. boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,256 shares of the information services provider’s stock after purchasing an additional 5,407 shares during the period. Alphabet comprises approximately 6.6% of Provident Trust Co.’s holdings, making the stock its 7th largest holding. Provident Trust Co.’s holdings in Alphabet were worth $189,821,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Jaffetilchin Investment Partners LLC lifted its position in Alphabet by 7.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock valued at $646,000 after acquiring an additional 41 shares in the last quarter. M Holdings Securities Inc. raised its stake in Alphabet by 2.0% during the 2nd quarter. M Holdings Securities Inc. now owns 2,096 shares of the information services provider’s stock valued at $2,367,000 after buying an additional 42 shares during the last quarter. Boston Family Office LLC raised its stake in Alphabet by 1.8% during the 2nd quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock valued at $2,769,000 after buying an additional 43 shares during the last quarter. Warren Averett Asset Management LLC raised its stake in Alphabet by 2.7% during the 2nd quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock valued at $1,873,000 after buying an additional 44 shares during the last quarter. Finally, Northstar Group Inc. raised its stake in Alphabet by 1.4% during the 2nd quarter. Northstar Group Inc. now owns 3,367 shares of the information services provider’s stock valued at $3,802,000 after buying an additional 45 shares during the last quarter. Institutional investors own 41.25% of the company’s stock.
GOOGL has been the subject of several analyst reports. Monness Crespi & Hardt reduced their price objective on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Pivotal Research upgraded Alphabet from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,010.00 to $1,240.00 in a research note on Monday, January 7th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research note on Tuesday, February 5th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 price target for the company in a research note on Monday, January 28th. Finally, Nomura dropped their price objective on shares of Alphabet from $1,350.00 to $1,310.00 and set a “buy” rating for the company in a report on Tuesday, February 5th. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,320.71.
Shares of GOOGL stock opened at $1,128.63 on Thursday. The company has a market cap of $784.66 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 3.92. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,291.44.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. During the same period last year, the company posted $9.70 earnings per share. Sell-side analysts anticipate that Alphabet Inc will post 47.38 earnings per share for the current fiscal year.
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Alphabet Company Profile
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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