CSat Investment Advisory L.P. Acquires New Holdings in Alphabet Inc (GOOGL)

CSat Investment Advisory L.P. acquired a new position in Alphabet Inc (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,498 shares of the information services provider’s stock, valued at approximately $5,079,000. Alphabet accounts for approximately 2.7% of CSat Investment Advisory L.P.’s portfolio, making the stock its 10th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Alphabet by 0.7% in the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after buying an additional 128,040 shares in the last quarter. Summit Trail Advisors LLC grew its position in Alphabet by 134,676.9% in 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 in the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after buying an additional 24,188 shares in the last quarter. Jennison Associates LLC grew its position in Alphabet by 10.1% in the 2nd quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock valued at $1,965,840,000 after buying an additional 159,959 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in Alphabet by 115,058.0% in 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 in the last quarter. 30.54% of the stock is currently owned by institutional investors and hedge funds.

GOOGL stock opened at $1,046.58 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. Alphabet Inc has a one year low of $984.00 and a one year high of $1,291.44. The stock has a market cap of $739.35 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.31 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 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 company had revenue of $27.16 billion during the quarter, compared to analyst estimates of $27.32 billion. Sell-side analysts predict that Alphabet Inc will post 45.02 EPS for the current year.

GOOGL has been the subject of a number of recent analyst reports. Macquarie reiterated a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a research report on Thursday, September 27th. Pivotal Research reduced their price objective on shares of Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research report on Friday, October 12th. MKM Partners raised their price objective on shares of Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Morgan Stanley restated an “overweight” rating and set a $1,515.00 price objective (up previously from $1,325.00) on shares of Alphabet in a research report on Wednesday, August 29th. Finally, Wedbush initiated coverage on shares of Alphabet in a research report on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,330.16.

TRADEMARK VIOLATION WARNING: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/12/08/csat-investment-advisory-l-p-acquires-new-holdings-in-alphabet-inc-googl.html.

About Alphabet

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.

See Also: Cost of Equity

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply