Oppenheimer Asset Management Inc. Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Oppenheimer Asset Management Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 20,860 shares of the information services provider’s stock, valued at approximately $17,687,000.

Other institutional investors have also bought and sold shares of the company. Delta Asset Management LLC TN boosted its position in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock worth $152,000 after buying an additional 33 shares during the last quarter. Finally, Cordasco Financial Network boosted its position in Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock worth $199,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) traded up 0.70% during mid-day trading on Friday, reaching $930.09. The company had a trading volume of 1,616,708 shares. The firm has a 50-day moving average of $956.22 and a 200 day moving average of $908.99. The company has a market capitalization of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the business posted $8.42 EPS. On average, analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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A number of equities analysts have issued reports on the company. UBS AG restated a “buy” rating and set a $1,050.00 price target (up from $980.00) on shares of Alphabet in a report on Saturday, April 29th. B. Riley reiterated a “buy” rating and issued a $1,032.00 target price on shares of Alphabet in a report on Wednesday, May 3rd. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Thursday, July 27th. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a report on Thursday. Finally, JMP Securities reiterated a “buy” rating and issued a $1,077.00 target price (down from $1,095.00) on shares of Alphabet in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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