Summit Securities Group LLC Purchases Shares of 1,230 Alphabet Inc. (GOOGL)

Summit Securities Group LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,230 shares of the information services provider’s stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Profund Advisors LLC grew its holdings in shares of Alphabet by 8.2% during the first quarter. Profund Advisors LLC now owns 28,909 shares of the information services provider’s stock valued at $24,509,000 after buying an additional 2,192 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management grew its holdings in shares of Alphabet by 32.3% during the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,553 shares of the information services provider’s stock valued at $2,164,000 after buying an additional 623 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Alphabet by 240.5% during the first quarter. Acadian Asset Management LLC now owns 68,212 shares of the information services provider’s stock valued at $57,834,000 after buying an additional 48,180 shares during the last quarter. Meritage Portfolio Management grew its holdings in shares of Alphabet by 0.5% during the first quarter. Meritage Portfolio Management now owns 22,117 shares of the information services provider’s stock valued at $18,750,000 after buying an additional 109 shares during the last quarter. Finally, NBT Bank N A NY grew its holdings in shares of Alphabet by 12.1% during the first quarter. NBT Bank N A NY now owns 4,813 shares of the information services provider’s stock valued at $4,080,000 after buying an additional 520 shares during the last quarter. 33.87% of the stock is owned by hedge funds and other institutional investors.

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Shares of Alphabet Inc. (NASDAQ GOOGL) opened at $1,049.99 on Friday. The firm has a market cap of $727,513.94, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,063.62.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same quarter in the prior year, the company posted $9.06 EPS. equities research analysts expect that Alphabet Inc. will post 32.17 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. J P Morgan Chase & Co lifted their price objective on shares of Alphabet from $1,075.00 to $1,115.00 and gave the company an “overweight” rating in a report on Saturday, July 22nd. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a report on Tuesday, July 25th. UBS AG reiterated an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Stifel Nicolaus boosted their price target on shares of Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Bank of America Corporation restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,088.02.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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