Daiwa Securities Group Inc. Raises Position in Alphabet Inc (NASDAQ:GOOGL)

Daiwa Securities Group Inc. raised its holdings in Alphabet Inc (NASDAQ:GOOGL) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,453 shares of the information services provider’s stock after buying an additional 649 shares during the period. Daiwa Securities Group Inc.’s holdings in Alphabet were worth $22,533,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Litman Gregory Asset Management LLC acquired a new position in Alphabet in the second quarter valued at $37,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Alphabet during the third quarter worth about $39,000. Lipe & Dalton acquired a new position in shares of Alphabet during the second quarter worth about $49,000. Johnson Financial Group Inc. increased its stake in shares of Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the period. Finally, Vista Private Wealth Partners. LLC purchased a new stake in Alphabet during the third quarter worth about $60,000. 33.56% of the stock is owned by institutional investors.

Shares of GOOGL traded up $1.11 on Friday, hitting $1,308.05. 163,853 shares of the stock traded hands, compared to its average volume of 1,389,441. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $895.48 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.58 and a beta of 1.01. The stock’s 50 day moving average is $1,240.01 and its two-hundred day moving average is $1,181.01. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,322.65.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion for the quarter, compared to analysts’ expectations of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same period in the previous year, the company posted $13.06 EPS. Research analysts forecast that Alphabet Inc will post 49.05 EPS for the current year.

A number of research firms recently commented on GOOGL. KeyCorp boosted their price objective on shares of Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Guggenheim decreased their price objective on shares of Alphabet from $1,525.00 to $1,460.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Nomura reissued a “buy” rating and set a $1,400.00 price objective (up previously from $1,300.00) on shares of Alphabet in a report on Friday, July 26th. Canaccord Genuity boosted their price objective on shares of Alphabet from $1,350.00 to $1,450.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, FBN Securities set a $1,400.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,406.25.

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.

Further Reading: The four types of profit margin

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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