Foster Victor Wealth Advisors LLC Buys 845 Shares of Alphabet Inc (NASDAQ:GOOGL)

Foster Victor Wealth Advisors LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 81.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,881 shares of the information services provider’s stock after purchasing an additional 845 shares during the period. Alphabet accounts for 1.3% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 23rd biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Alphabet were worth $2,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL lifted its position in Alphabet by 0.8% during the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock valued at $4,923,000 after acquiring an additional 34 shares during the last quarter. Essex Financial Services Inc. lifted its position in Alphabet by 4.1% during the second quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock valued at $4,446,000 after acquiring an additional 160 shares during the last quarter. Pacific Wealth Strategies Group Inc. lifted its position in Alphabet by 2.7% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock valued at $4,009,000 after acquiring an additional 87 shares during the last quarter. Carlson Capital L P lifted its position in Alphabet by 19.2% during the second quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock valued at $26,447,000 after acquiring an additional 3,935 shares during the last quarter. Finally, Shellback Capital LP purchased a new stake in Alphabet during the fourth quarter valued at approximately $6,270,000. Hedge funds and other institutional investors own 33.50% of the company’s stock.

A number of equities research analysts recently commented on GOOGL shares. Morgan Stanley increased their target price on shares of Alphabet from $1,400.00 to $1,450.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group increased their target price on shares of Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Citigroup reissued a “buy” rating and set a $1,450.00 target price (up previously from $1,325.00) on shares of Alphabet in a research report on Friday, July 26th. Mizuho increased their target price on shares of Alphabet from $1,350.00 to $1,400.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Credit Suisse Group increased their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $1,375.78.

Shares of NASDAQ:GOOGL traded up $5.15 during midday trading on Friday, reaching $1,214.62. The company’s stock had a trading volume of 840,580 shares, compared to its average volume of 1,311,059. The firm has a market capitalization of $842.22 billion, a PE ratio of 25.57, a P/E/G ratio of 1.40 and a beta of 0.99. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The stock has a fifty day moving average of $1,206.08 and a 200 day moving average of $1,174.07. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Sell-side analysts anticipate that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

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.

See Also: Current Ratio

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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