Wendell David Associates Inc. Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Wendell David Associates Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 large investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet during the first quarter valued at about $108,000. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the period. Farmers National Bank boosted its position in Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its position in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 34.12% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) traded down 0.16% on Friday, hitting $926.18. The stock had a trading volume of 1,337,404 shares. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The firm has a market capitalization of $641.73 billion, a price-to-earnings ratio of 33.57 and a beta of 0.99. The stock’s 50-day moving average is $952.51 and its 200 day moving average is $912.15.

Alphabet (NASDAQ:GOOGL) last announced 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 firm 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 quarter in the previous year, the firm posted $8.42 EPS. On average, equities research analysts predict that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.

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Several research analysts have weighed in on GOOGL shares. JMP Securities reissued an “outperform” rating and issued a $1,095.00 price objective (up previously from $1,020.00) on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reissued an “outperform” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Monday, April 24th. Societe Generale set a $1,210.00 price target on Alphabet and gave the company a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reaffirmed a “buy” rating and set a $1,170.00 price target (up previously from $1,000.00) on shares of Alphabet in a research report on Monday, May 8th. Finally, Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target on the stock. in a research report on Monday, April 24th. One research 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 stock. The company has a consensus rating of “Buy” and an average target price of $1,053.45.

Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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