Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by GQG Partners LLC

GQG Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 76.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,152 shares of the information services provider’s stock after purchasing an additional 87,326 shares during the quarter. Alphabet makes up 1.5% of GQG Partners LLC’s portfolio, making the stock its 27th biggest holding. GQG Partners LLC’s holdings in Alphabet were worth $493,612,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOOGL. Laurel Wealth Planning LLC acquired a new stake in Alphabet during the second quarter worth about $27,000. Financial Insights Inc. acquired a new stake in Alphabet during the second quarter worth about $39,000. Harvest Group Wealth Management LLC acquired a new stake in Alphabet during the second quarter worth about $66,000. Cowen Prime Advisors LLC acquired a new stake in Alphabet during the second quarter worth about $98,000. Finally, Capital Advisors Ltd. LLC increased its stake in Alphabet by 35.9% during the first quarter. Capital Advisors Ltd. LLC now owns 53 shares of the information services provider’s stock worth $109,000 after acquiring an additional 14 shares during the last quarter. Institutional investors own 34.43% of the company’s stock.

Shares of Alphabet stock traded up $60.58 on Thursday, reaching $2,812.22. 39,081 shares of the company were exchanged, compared to its average volume of 1,525,323. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The company’s 50-day moving average is $2,793.11 and its two-hundred day moving average is $2,531.99. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 1-year low of $1,508.48 and a 1-year high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The business had revenue of $50.95 billion for the quarter, compared to analysts’ expectations of $46.07 billion. During the same period in the prior year, the firm earned $10.13 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 101.86 earnings per share for the current year.

A number of equities research analysts have recently issued reports on GOOGL shares. Mizuho increased their target price on Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. MKM Partners increased their target price on Alphabet from $2,500.00 to $3,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Credit Suisse Group increased their target price on Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Argus increased their target price on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Finally, Jefferies Financial Group increased their target price on Alphabet from $3,150.00 to $3,325.00 and gave the company a “buy” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and thirty-eight have given a buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $2,884.67.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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