Watch Point Trust Co reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,179 shares of the information services provider’s stock after selling 15 shares during the period. Watch Point Trust Co’s holdings in Alphabet were worth $1,096,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Monetary Management Group Inc. raised its position in Alphabet by 2.1% in the fourth quarter. Monetary Management Group Inc. now owns 4,092 shares of the information services provider’s stock valued at $3,243,000 after buying an additional 86 shares in the last quarter. Exchange Capital Management Inc. raised its position in Alphabet by 1.4% in the fourth quarter. Exchange Capital Management Inc. now owns 8,351 shares of the information services provider’s stock valued at $6,618,000 after buying an additional 113 shares in the last quarter. Advisory Research Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $365,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $467,000. Finally, Raiff Partners Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $2,060,000. Institutional investors and hedge funds own 34.31% of the company’s stock.
Alphabet Inc. (GOOGL) traded up 0.70% during midday trading on Friday, reaching $930.09. 1,616,708 shares of the company’s stock traded hands. The firm has a market cap of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61. The firm’s 50-day moving average is $956.22 and its 200 day moving average is $908.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter last year, the business earned $8.42 EPS. Equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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A number of analysts have recently commented on the company. Cowen and Company restated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a report on Thursday. MKM Partners reaffirmed a “buy” rating and issued a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Wednesday. Mizuho reaffirmed a “buy” rating and issued a $1,220.00 target price on shares of Alphabet in a research report on Monday, August 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,049.20.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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