Truepoint Inc. acquired a new stake in Alphabet Inc (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 221 shares of the information services provider’s stock, valued at approximately $250,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC grew its position in Alphabet by 3.1% during the first quarter. Cetera Advisor Networks LLC now owns 3,896 shares of the information services provider’s stock valued at $4,032,000 after buying an additional 118 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Alphabet by 46.5% in the first quarter. Sunbelt Securities Inc. now owns 318 shares of the information services provider’s stock worth $330,000 after buying an additional 101 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock worth $19,428,946,000 after buying an additional 269,848 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its stake in Alphabet by 57.4% during the first quarter. Canandaigua National Bank & Trust Co. now owns 3,239 shares of the information services provider’s stock valued at $3,359,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Alphabet by 4.9% during the first quarter. Cetera Investment Advisers now owns 1,913 shares of the information services provider’s stock valued at $1,977,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 30.54% of the company’s stock.
GOOGL has been the topic of several recent research reports. Guggenheim initiated coverage on shares of Alphabet in a report on Thursday. They set a “buy” rating and a $1,330.00 target price on the stock. Nomura reaffirmed a “buy” rating and issued a $1,400.00 price objective on shares of Alphabet in a research report on Tuesday. ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. MKM Partners decreased their price objective on shares of Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a research report on Monday, November 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,500.00 price objective (down from $1,515.00) on shares of Alphabet in a research report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,330.16.
Alphabet stock opened at $1,046.58 on Friday. Alphabet Inc has a 1 year low of $984.00 and a 1 year high of $1,291.44. The firm has a market capitalization of $739.35 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.31 and a beta of 1.06. 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 released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $2.52. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The firm had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. As a group, analysts forecast that Alphabet Inc will post 45.02 EPS 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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