Epstein & White Financial LLC purchased a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 214 shares of the information services provider’s stock, valued at approximately $314,000.
Other institutional investors have also made changes to their positions in the company. Virtus Alternative Investment Advisers Inc. acquired a new stake in Alphabet during the second quarter worth approximately $45,000. Cedar Mountain Advisors LLC grew its position in shares of Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares during the last quarter. Watson Rebecca acquired a new stake in Alphabet during the 2nd quarter worth approximately $60,000. Virtus ETF Advisers LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $84,000. Finally, CVA Family Office LLC bought a new stake in Alphabet in the 1st quarter valued at $70,000. 33.78% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on GOOGL shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $2,020.00 target price (up previously from $1,975.00) on shares of Alphabet in a report on Monday, October 12th. Needham & Company LLC reiterated a “buy” rating and issued a $1,800.00 price objective on shares of Alphabet in a research note on Friday, July 31st. BofA Securities boosted their price objective on shares of Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a report on Friday, July 31st. Moffett Nathanson raised their target price on shares of Alphabet from $1,650.00 to $1,850.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Finally, Canaccord Genuity boosted their price target on Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $1,679.91.
Shares of NASDAQ GOOGL opened at $1,567.70 on Friday. The firm has a 50 day moving average price of $1,519.73 and a two-hundred day moving average price of $1,433.08. The stock has a market cap of $1,066.29 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Analysts predict that Alphabet Inc will post 44.87 earnings per share 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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