Alphabet Inc Class A (GOOGL) Shares Bought by Spectrum Management Group Inc.

Spectrum Management Group Inc. increased its position in Alphabet Inc Class A (NASDAQ:GOOGL) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,692 shares of the information services provider’s stock after acquiring an additional 122 shares during the period. Spectrum Management Group Inc.’s holdings in Alphabet Inc Class A were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GOOGL. Summit Trail Advisors LLC raised its stake in shares of Alphabet Inc Class A by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after buying an additional 17,925,496 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Alphabet Inc Class A by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after buying an additional 1,387,599 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Alphabet Inc Class A by 78.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock valued at $1,362,458,000 after buying an additional 575,882 shares during the last quarter. BlackRock Inc. raised its stake in shares of Alphabet Inc Class A by 1.5% during the 1st quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after buying an additional 269,848 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Alphabet Inc Class A by 20.5% during the 1st quarter. California Public Employees Retirement System now owns 1,271,699 shares of the information services provider’s stock valued at $1,318,930,000 after buying an additional 216,119 shares during the last quarter. Institutional investors own 33.53% of the company’s stock.

GOOGL stock opened at $1,120.54 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. Alphabet Inc Class A has a 12-month low of $977.08 and a 12-month high of $1,291.44. The stock has a market capitalization of $840.06 billion, a P/E ratio of 34.96, a PEG ratio of 1.53 and a beta of 1.11.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. The company had revenue of $26.24 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period in the previous year, the firm posted $5.01 EPS. As a group, analysts expect that Alphabet Inc Class A will post 42.53 earnings per share for the current year.

A number of equities analysts have weighed in on GOOGL shares. Morgan Stanley reiterated an “overweight” rating and set a $1,250.00 price objective (up previously from $1,200.00) on shares of Alphabet Inc Class A in a research note on Thursday, June 28th. Credit Suisse Group reiterated an “outperform” rating and set a $1,330.00 price objective (down previously from $1,350.00) on shares of Alphabet Inc Class A in a research note on Monday, July 16th. Macquarie reiterated a “buy” rating and set a $1,250.00 price objective on shares of Alphabet Inc Class A in a research note on Monday, August 27th. Citigroup reiterated a “buy” rating and set a $1,400.00 price objective (up previously from $1,350.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $1,456.00 price objective (up previously from $1,234.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have issued a buy rating to the company. Alphabet Inc Class A currently has a consensus rating of “Buy” and an average price target of $1,315.01.

Alphabet Inc Class A 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.

Read More: Return on Equity (ROE)

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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