Alphabet Inc (NASDAQ:GOOGL) Stake Boosted by HCR Wealth Advisors

HCR Wealth Advisors grew its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,879 shares of the information services provider’s stock after acquiring an additional 54 shares during the period. Alphabet accounts for 2.0% of HCR Wealth Advisors’ investment portfolio, making the stock its 8th biggest holding. HCR Wealth Advisors’ holdings in Alphabet were worth $8,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GOOGL. Huntington National Bank boosted its holdings in Alphabet by 1.6% during the second quarter. Huntington National Bank now owns 67,328 shares of the information services provider’s stock valued at $95,472,000 after acquiring an additional 1,081 shares during the period. Peregrine Capital Management LLC boosted its holdings in Alphabet by 3.1% during the second quarter. Peregrine Capital Management LLC now owns 24,177 shares of the information services provider’s stock valued at $34,284,000 after acquiring an additional 738 shares during the period. Lyell Wealth Management LP boosted its holdings in Alphabet by 1.5% during the second quarter. Lyell Wealth Management LP now owns 6,379 shares of the information services provider’s stock valued at $9,046,000 after acquiring an additional 97 shares during the period. Washington Trust Bank boosted its holdings in Alphabet by 0.6% during the second quarter. Washington Trust Bank now owns 6,175 shares of the information services provider’s stock valued at $8,756,000 after acquiring an additional 36 shares during the period. Finally, Chartwell Investment Partners LLC boosted its holdings in Alphabet by 20.1% during the second quarter. Chartwell Investment Partners LLC now owns 2,998 shares of the information services provider’s stock valued at $4,251,000 after acquiring an additional 502 shares during the period. Hedge funds and other institutional investors own 34.14% of the company’s stock.

GOOGL traded down $50.42 during mid-day trading on Friday, hitting $1,487.95. The stock had a trading volume of 4,576,382 shares, compared to its average volume of 1,580,507. The stock’s fifty day simple moving average is $1,473.93 and its 200-day simple moving average is $1,375.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The firm has a market capitalization of $1,015.70 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,587.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. As a group, research analysts expect that Alphabet Inc will post 42.07 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the stock. Oppenheimer reaffirmed a “buy” rating and set a $1,445.00 price objective on shares of Alphabet in a research report on Wednesday, April 29th. Susquehanna Bancshares upped their price objective on shares of Alphabet from $1,550.00 to $1,850.00 and gave the company a “positive” rating in a research report on Friday. Barclays increased their price target on shares of Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and increased their price target for the stock from $1,550.00 to $1,600.00 in a research report on Friday. Finally, BofA Securities increased their price target on shares of Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,657.51.

Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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