Van ECK Associates Corp bought a new position in Alphabet Inc (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,646 shares of the information services provider’s stock, valued at approximately $4,117,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Ocean LLC grew its holdings in Alphabet by 355.6% during the 1st quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock worth $127,000 after acquiring an additional 96 shares during the last quarter. Highlander Capital Management LLC grew its holdings in Alphabet by 333.3% during the 1st quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock worth $133,000 after acquiring an additional 100 shares during the last quarter. Emerald Investment Partners LLC bought a new stake in Alphabet during the 2nd quarter worth about $137,000. Clearwater Capital Advisors LLC bought a new stake in Alphabet during the 1st quarter worth about $153,000. Finally, Quad Cities Investment Group LLC bought a new stake in Alphabet during the 2nd quarter worth about $179,000. 30.54% of the stock is currently owned by institutional investors and hedge funds.
Alphabet stock opened at $1,046.58 on Friday. 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 Inc has a 1 year low of $984.00 and a 1 year high of $1,291.44. The stock has a market cap of $750.21 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL) last released its 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 company had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. On average, analysts forecast that Alphabet Inc will post 45.02 earnings per share for the current year.
GOOGL has been the topic of a number of research analyst reports. Macquarie reissued a “buy” rating and set a $1,250.00 price objective on shares of Alphabet in a report on Wednesday, August 15th. Jefferies Financial Group reissued a “buy” rating and set a $1,450.00 price objective on shares of Alphabet in a report on Tuesday, August 21st. MKM Partners increased their price objective on shares of Alphabet from $1,355.00 to $1,465.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $1,515.00 price objective (up previously from $1,325.00) on shares of Alphabet in a report on Wednesday, August 29th. Finally, Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,330.16.
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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