Zevin Asset Management LLC boosted its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,400 shares of the information services provider’s stock after buying an additional 227 shares during the quarter. Alphabet accounts for approximately 2.9% of Zevin Asset Management LLC’s portfolio, making the stock its 13th largest holding. Zevin Asset Management LLC’s holdings in Alphabet were worth $9,036,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Thoroughbred Financial Services LLC grew its position in Alphabet by 205,910.9% during the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after buying an additional 3,391,353 shares during the period. Nuveen Asset Management LLC grew its position in Alphabet by 2,010.7% during the second quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock worth $2,397,786,000 after buying an additional 2,109,515 shares during the period. Invesco Ltd. grew its position in Alphabet by 37.1% during the second quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after buying an additional 1,285,824 shares during the period. Packer & Co Ltd grew its position in Alphabet by 4,018.6% during the second quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock worth $25,202,000 after buying an additional 935,325 shares during the period. Finally, Veritas Asset Management LLP grew its position in Alphabet by 52.9% during the second quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock worth $1,114,175,000 after buying an additional 355,900 shares during the period. Institutional investors own 33.56% of the company’s stock.
Several research analysts have weighed in on GOOGL shares. Monness Crespi & Hardt set a $1,360.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Monday, October 21st. FBN Securities set a $1,400.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. MKM Partners reaffirmed a “buy” rating and issued a $1,450.00 price target on shares of Alphabet in a report on Friday, August 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $1,700.00 price target (up previously from $1,500.00) on shares of Alphabet in a report on Wednesday, October 23rd. They noted that the move was a valuation call. Finally, Jefferies Financial Group upped their price target on shares of Alphabet from $1,500.00 to $1,550.00 in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $1,406.25.
NASDAQ:GOOGL traded up $2.06 during trading hours on Friday, reaching $1,309.00. 1,519,600 shares of the company were exchanged, compared to its average volume of 1,555,468. The stock has a 50 day simple moving average of $1,241.32 and a 200 day simple moving average of $1,181.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,322.65. The firm has a market cap of $895.48 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.58 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The business had revenue of $33.01 billion during the quarter, compared to the consensus estimate of $32.84 billion. During the same quarter in the previous year, the business posted $13.06 earnings per share. On average, analysts predict that Alphabet Inc will post 49.05 EPS for the current fiscal year.
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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