Wendell David Associates Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,022 shares of the information services provider’s stock after buying an additional 435 shares during the period. Wendell David Associates Inc.’s holdings in Alphabet were worth $4,669,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Alphabet during the fourth quarter valued at about $2,411,505,000. Glenview Capital Management LLC acquired a new stake in Alphabet during the fourth quarter valued at about $605,119,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Alphabet during the fourth quarter valued at about $341,958,000. Dodge & Cox acquired a new stake in Alphabet during the fourth quarter valued at about $260,940,000. Finally, Investec Asset Management LTD boosted its stake in Alphabet by 62.7% in the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock valued at $526,576,000 after buying an additional 239,390 shares during the last quarter. 34.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded up 0.70% during trading on Friday, reaching $930.09. 1,616,708 shares of the company’s stock were exchanged. The stock has a market cap of $644.44 billion, a P/E ratio of 33.71 and a beta of 0.99. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The company has a 50 day moving average of $956.22 and a 200 day moving average of $908.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The company had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period last year, the firm posted $8.42 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
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Several research firms recently issued reports on GOOGL. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price on the stock in a research note on Monday, June 5th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Citigroup Inc. lifted their price objective on Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,100.00 price objective (down from $1,150.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,049.20.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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