Pachira Investments Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Pachira Investments Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 120 shares of the information services provider’s stock, valued at approximately $321,000. Alphabet makes up about 0.2% of Pachira Investments Inc.’s holdings, making the stock its 20th biggest holding.

Several other institutional investors have also recently bought and sold shares of GOOGL. Amundi bought a new position in shares of Alphabet during the 2nd quarter worth $2,870,493,000. Liberty Wealth Management LLC grew its stake in shares of Alphabet by 232,278.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 625,098 shares of the information services provider’s stock worth $256,000 after acquiring an additional 624,829 shares during the period. Macquarie Group Ltd. grew its stake in shares of Alphabet by 588.0% during the 2nd quarter. Macquarie Group Ltd. now owns 579,641 shares of the information services provider’s stock worth $1,415,362,000 after acquiring an additional 495,388 shares during the period. Jennison Associates LLC grew its stake in shares of Alphabet by 21.3% during the 2nd quarter. Jennison Associates LLC now owns 1,742,830 shares of the information services provider’s stock worth $4,255,625,000 after acquiring an additional 306,146 shares during the period. Finally, Parnassus Investments CA grew its stake in shares of Alphabet by 46.7% during the 2nd quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock worth $1,692,336,000 after acquiring an additional 220,762 shares during the period. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on GOOGL. KeyCorp increased their price target on Alphabet from $3,071.00 to $3,090.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $3,400.00 price target (up previously from $3,100.00) on shares of Alphabet in a research note on Wednesday, October 27th. Credit Suisse Group raised their target price on Alphabet from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Morgan Stanley raised their target price on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 2nd. Finally, Monness Crespi & Hardt raised their target price on Alphabet from $3,500.00 to $3,660.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Four investment analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $3,156.15.

Shares of GOOGL stock traded up $6.76 during trading hours on Thursday, reaching $2,922.40. The company’s stock had a trading volume of 900,854 shares, compared to its average volume of 1,534,131. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 28.14, a P/E/G ratio of 1.07 and a beta of 1.04. Alphabet Inc. has a one year low of $1,694.00 and a one year high of $3,019.33. The firm’s fifty day simple moving average is $2,850.18 and its 200 day simple moving average is $2,668.40. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a return on equity of 30.22% and a net margin of 29.52%. During the same period last year, the company posted $16.40 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 107.86 earnings per share for the current fiscal year.

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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