Camden National Bank raised its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 371 shares of the information services provider’s stock after acquiring an additional 19 shares during the quarter. Camden National Bank’s holdings in Alphabet were worth $453,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Semmax Financial Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at about $167,000. Foresters Investment Management Company Inc. raised its stake in Alphabet by 64.7% during the 4th quarter. Foresters Investment Management Company Inc. now owns 32,075 shares of the information services provider’s stock valued at $33,517,000 after acquiring an additional 12,600 shares during the last quarter. Shellback Capital LP purchased a new stake in Alphabet during the 4th quarter valued at approximately $6,270,000. Lincoln Capital LLC raised its stake in Alphabet by 5.8% during the 4th quarter. Lincoln Capital LLC now owns 8,365 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 460 shares during the last quarter. Finally, Pathlight Investors LLC purchased a new stake in Alphabet during the 4th quarter valued at approximately $239,000. 33.50% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Citigroup reaffirmed a “buy” rating and set a $1,450.00 price objective (up from $1,325.00) on shares of Alphabet in a research note on Friday, July 26th. Oppenheimer set a $1,370.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC set a $1,350.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley upped their price objective on Alphabet from $1,400.00 to $1,450.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,375.78.
NASDAQ:GOOGL traded up $6.24 during trading hours on Friday, reaching $1,215.71. 1,116,202 shares of the company traded hands, compared to its average volume of 1,311,059. The firm’s 50-day moving average is $1,206.08 and its 200-day moving average is $1,174.07. The stock has a market cap of $842.22 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, research analysts predict that Alphabet Inc will post 51.29 earnings per share for the current 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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