Fernwood Investment Management LLC Raises Holdings in Alphabet Inc. (GOOGL)

Fernwood Investment Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,421 shares of the information services provider’s stock after purchasing an additional 120 shares during the quarter. Alphabet comprises about 1.0% of Fernwood Investment Management LLC’s holdings, making the stock its 27th biggest holding. Fernwood Investment Management LLC’s holdings in Alphabet were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Novare Capital Management LLC grew its position in shares of Alphabet by 0.9% in the 2nd quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock worth $7,986,000 after buying an additional 80 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth about $211,000. Country Trust Bank purchased a new stake in shares of Alphabet in the 2nd quarter worth about $44,071,000. Girard Partners LTD. grew its position in shares of Alphabet by 10.7% in the 1st quarter. Girard Partners LTD. now owns 4,528 shares of the information services provider’s stock worth $3,839,000 after buying an additional 439 shares during the period. Finally, Anchor Capital Advisors LLC grew its position in shares of Alphabet by 3.0% in the 2nd quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock worth $351,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 33.81% of the company’s stock.

A number of analysts have recently weighed in on the stock. J P Morgan Chase & Co upped their target price on shares of Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research report on Saturday, July 22nd. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 target price on the stock in a research report on Tuesday, July 25th. UBS AG reaffirmed an “overweight” rating on shares of Alphabet in a research report on Thursday, August 24th. Stifel Nicolaus upped their target price on shares of Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,088.53.

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Alphabet Inc. (GOOGL) opened at $1,041.64 on Wednesday. Alphabet Inc. has a one year low of $753.36 and a one year high of $1,063.62. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $723,426.81, a P/E ratio of 34.86, a PEG ratio of 1.76 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter in the prior year, the business earned $9.06 EPS. research analysts expect that Alphabet Inc. will post 32.15 earnings per share for the current fiscal year.

About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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