Highbridge Capital Management LLC grew its holdings in Alphabet Inc (NASDAQ:GOOGL) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,238 shares of the information services provider’s stock after purchasing an additional 1,400 shares during the quarter. Highbridge Capital Management LLC’s holdings in Alphabet were worth $13,251,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Beacon Pointe Advisors LLC bought a new position in Alphabet during the 4th quarter worth approximately $655,000. Northwest Quadrant Wealth Management LLC bought a new position in Alphabet during the 4th quarter worth approximately $474,000. United Income Inc. bought a new position in Alphabet during the 4th quarter worth approximately $358,000. Sawgrass Asset Management LLC boosted its stake in Alphabet by 30.8% during the 4th quarter. Sawgrass Asset Management LLC now owns 82,845 shares of the information services provider’s stock worth $86,569,000 after acquiring an additional 19,527 shares during the last quarter. Finally, Tradition Capital Management LLC boosted its stake in Alphabet by 3.0% during the 4th quarter. Tradition Capital Management LLC now owns 544 shares of the information services provider’s stock worth $568,000 after acquiring an additional 16 shares during the last quarter. 33.50% of the stock is currently owned by institutional investors.
GOOGL has been the topic of several research analyst reports. Susquehanna Bancshares raised their target price on shares of Alphabet to $1,550.00 in a report on Friday, July 26th. Pivotal Research initiated coverage on shares of Alphabet in a report on Wednesday, May 29th. They set a “hold” rating and a $1,250.00 target price on the stock. Loop Capital initiated coverage on shares of Alphabet in a report on Monday, June 3rd. They set a “hold” rating and a $1,250.00 target price on the stock. Canaccord Genuity raised their target price on shares of Alphabet from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Macquarie set a $1,300.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,373.76.
Shares of Alphabet stock traded down $3.40 on Friday, reaching $1,235.35. 552,974 shares of the company’s stock were exchanged, compared to its average volume of 1,118,407. The company has a market capitalization of $852.80 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,296.97. The firm’s 50-day moving average is $1,194.08 and its two-hundred day moving average is $1,170.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. On average, analysts expect that Alphabet Inc will post 51.29 EPS for the current fiscal year.
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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