Legacy Private Trust Co. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,821 shares of the information services provider’s stock after purchasing an additional 909 shares during the period. Legacy Private Trust Co.’s holdings in Alphabet were worth $3,552,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Alphabet during the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Alphabet during the first quarter worth about $108,000. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% during the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after purchasing an additional 2 shares in the last quarter. Farmers National Bank increased its stake in shares of Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after purchasing an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in shares of Alphabet by 58.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after purchasing an additional 56 shares in the last quarter. 33.85% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on GOOGL. Stifel Nicolaus restated a “buy” rating and set a $1,075.00 price target on shares of Alphabet in a research report on Monday, September 25th. UBS AG restated a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and set a $1,200.00 price target on shares of Alphabet in a research report on Tuesday. They noted that the move was a valuation call. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price target on the stock. in a research report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,063.87.
Shares of Alphabet Inc. (GOOGL) traded up 1.248% during mid-day trading on Wednesday, reaching $1000.125. 753,499 shares of the company were exchanged. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The firm has a market capitalization of $298.08 billion, a price-to-earnings ratio of 43.788 and a beta of 0.96. The company’s 50-day moving average is $951.32 and its 200 day moving average is $940.49.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the firm earned $8.42 EPS. Analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
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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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