Alphabet Inc. (NASDAQ:GOOGL) is Addison Capital Co’s 8th Largest Position


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Addison Capital Co grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,578 shares of the information services provider’s stock after purchasing an additional 22 shares during the period. Alphabet makes up about 3.0% of Addison Capital Co’s portfolio, making the stock its 8th biggest holding. Addison Capital Co’s holdings in Alphabet were worth $5,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kinloch Capital LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $28,000. Resolute Partners Group purchased a new stake in shares of Alphabet during the 4th quarter valued at $28,000. ForthRight Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $32,000. Cypress Point Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Cowa LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Several equities analysts recently issued reports on GOOGL shares. Truist upped their target price on Alphabet from $2,000.00 to $2,100.00 in a research report on Monday, February 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Monness Crespi & Hardt upped their target price on Alphabet from $2,000.00 to $2,500.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Cowen reaffirmed an “outperform” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $1,870.00 to $2,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 16th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and forty-one have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $2,140.07.

GOOGL stock opened at $2,244.62 on Tuesday. The firm has a market cap of $1.51 trillion, a PE ratio of 43.37, a PEG ratio of 1.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The firm’s 50 day moving average price is $2,082.23 and its 200-day moving average price is $1,833.23. Alphabet Inc. has a one year low of $1,182.33 and a one year high of $2,273.97.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.90 by $6.40. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.09 billion. During the same quarter in the previous year, the company earned $15.35 EPS. Equities research analysts predict that Alphabet Inc. will post 52.19 EPS for the current fiscal year.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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