American Research & Management Co. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,880 shares of the information services provider’s stock after buying an additional 13 shares during the quarter. Alphabet accounts for 1.4% of American Research & Management Co.’s holdings, making the stock its 26th biggest holding. American Research & Management Co.’s holdings in Alphabet were worth $5,940,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kinloch Capital LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $28,000. Resolute Partners Group bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $28,000. ForthRight Wealth Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $32,000. Cowa LLC bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $38,000. Finally, Cypress Point Wealth Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $39,000. 33.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $2,500.00 price target on shares of Alphabet in a report on Wednesday, March 10th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,330.00 target price on the stock in a report on Tuesday. Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,525.00 target price on the stock in a report on Tuesday, February 16th. Canaccord Genuity reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $1,800.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. One equities research analyst has rated the stock with a hold rating and forty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $2,108.21.
Shares of NASDAQ:GOOGL traded up $8.37 on Thursday, reaching $2,247.40. 36,471 shares of the company traded hands, compared to its average volume of 1,826,505. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 43.27, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. Alphabet Inc. has a 52 week low of $1,182.33 and a 52 week high of $2,244.50. The business’s 50-day simple moving average is $2,066.46 and its 200 day simple moving average is $1,812.59. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, topping the Zacks’ consensus estimate of $15.90 by $6.40. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.09 billion. During the same period in the previous year, the firm earned $15.35 EPS. Sell-side analysts expect that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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