South State CORP. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,947 shares of the information services provider’s stock after buying an additional 50 shares during the quarter. South State CORP.’s holdings in Alphabet were worth $6,078,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of GOOGL. Wealth Management Partners LLC acquired a new position in Alphabet in the 4th quarter worth approximately $267,000. Parisi Gray Wealth Management grew its stake in shares of Alphabet by 1.5% during the 4th quarter. Parisi Gray Wealth Management now owns 1,778 shares of the information services provider’s stock worth $3,116,000 after purchasing an additional 26 shares during the period. FWL Investment Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $230,000. Schnieders Capital Management LLC grew its stake in shares of Alphabet by 0.3% during the 4th quarter. Schnieders Capital Management LLC now owns 4,108 shares of the information services provider’s stock worth $7,200,000 after purchasing an additional 14 shares during the period. Finally, Sage Mountain Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $449,000. Institutional investors own 34.46% of the company’s stock.
A number of equities research analysts have recently commented on GOOGL shares. China Renaissance Securities raised shares of Alphabet from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1,477.00 to $3,000.00 in a research note on Monday, May 3rd. Morgan Stanley increased their target price on Alphabet from $2,350.00 to $2,575.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. KeyCorp increased their target price on Alphabet from $2,625.00 to $2,681.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. JPMorgan Chase & Co. increased their target price on Alphabet from $2,575.00 to $2,875.00 in a research report on Wednesday, April 28th. Finally, Truist increased their target price on Alphabet from $2,250.00 to $2,400.00 in a research report on Monday, April 26th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $2,516.55.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating the consensus estimate of $15.82 by $10.47. Alphabet had a return on equity of 23.54% and a net margin of 26.11%. During the same period in the prior year, the company posted $9.87 earnings per share. On average, analysts expect that Alphabet Inc. will post 89.46 EPS for the current 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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