Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 167 shares of the information services provider’s stock, valued at approximately $237,000.
Several other institutional investors also recently bought and sold shares of GOOGL. Amundi Pioneer Asset Management Inc. increased its holdings in Alphabet by 29.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock valued at $1,297,422,000 after purchasing an additional 219,626 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Alphabet during the 4th quarter valued at $76,173,000. Blue Whale Capital LLP acquired a new stake in Alphabet during the 4th quarter valued at $9,670,000. Redhawk Wealth Advisors Inc. increased its holdings in Alphabet by 34.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 386 shares of the information services provider’s stock valued at $517,000 after purchasing an additional 99 shares in the last quarter. Finally, Wintrust Investments LLC increased its holdings in Alphabet by 13.3% during the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock valued at $1,136,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 34.22% of the company’s stock.
A number of research firms recently weighed in on GOOGL. Stifel Nicolaus raised their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. SunTrust Banks reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, June 24th. Loop Capital lifted their target price on Alphabet from $1,320.00 to $1,400.00 in a research note on Thursday, April 9th. Royal Bank of Canada lifted their target price on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird lifted their target price on Alphabet from $1,500.00 to $1,650.00 in a research note on Thursday, June 25th. Three research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,536.87.
GOOGL stock traded up $8.36 during midday trading on Wednesday, hitting $1,498.28. 768,622 shares of the company’s stock were exchanged, compared to its average volume of 1,946,304. The stock’s fifty day moving average price is $1,427.71 and its 200-day moving average price is $1,356.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $1,024.18 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.26 and a beta of 1.06. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,530.74.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The firm had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter last year, the firm earned $9.50 earnings per share. On average, analysts expect that Alphabet Inc will post 41.23 EPS for the current year.
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.
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