Main Street Research LLC grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 19.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,406 shares of the information services provider’s stock after buying an additional 1,356 shares during the period. Main Street Research LLC’s holdings in Alphabet were worth $11,921,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in GOOGL. Advisor Group Holdings Inc. purchased a new position in shares of Alphabet in the 1st quarter worth about $79,769,000. Girard Partners LTD. raised its position in shares of Alphabet by 9,648.1% in the 1st quarter. Girard Partners LTD. now owns 505,535 shares of the information services provider’s stock worth $6,229,000 after purchasing an additional 500,349 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Alphabet by 12.1% in the 1st quarter. Wellington Management Group LLP now owns 4,485,396 shares of the information services provider’s stock worth $5,211,807,000 after purchasing an additional 483,219 shares during the last quarter. Franklin Resources Inc. raised its position in Alphabet by 44.3% in the 1st quarter. Franklin Resources Inc. now owns 866,062 shares of the information services provider’s stock worth $1,006,266,000 after buying an additional 265,700 shares during the last quarter. Finally, Viking Global Investors LP raised its position in Alphabet by 466.5% in the 1st quarter. Viking Global Investors LP now owns 313,179 shares of the information services provider’s stock worth $363,898,000 after buying an additional 257,894 shares during the last quarter. Hedge funds and other institutional investors own 34.14% of the company’s stock.
Shares of NASDAQ:GOOGL opened at $1,487.95 on Friday. The business’s fifty day moving average price is $1,473.93 and its two-hundred day moving average price is $1,375.65. The stock has a market cap of $1,050.12 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,587.05.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. As a group, equities research analysts predict that Alphabet Inc will post 42.07 earnings per share for the current fiscal year.
GOOGL has been the subject of several research reports. JMP Securities upped their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Pivotal Research upped their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer reiterated a “buy” rating and set a $1,445.00 price objective on shares of Alphabet in a research note on Wednesday, April 29th. Atlantic Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Alphabet in a research note on Wednesday, April 29th. Finally, Credit Suisse Group boosted their price objective on Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a hold rating and forty have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,657.51.
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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