Pinnacle Associates Ltd. Has $9.74 Million Position in Alphabet Inc Class A (GOOGL)

Pinnacle Associates Ltd. lifted its stake in shares of Alphabet Inc Class A (NASDAQ:GOOGL) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,394 shares of the information services provider’s stock after acquiring an additional 1,114 shares during the period. Pinnacle Associates Ltd.’s holdings in Alphabet Inc Class A were worth $9,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in Alphabet Inc Class A in the 4th quarter worth about $108,000. Westchester Capital Management Inc. boosted its stake in Alphabet Inc Class A by 1,262.5% in the 1st quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock worth $113,000 after buying an additional 101 shares during the last quarter. Stuart Chaussee & Associates Inc. acquired a new stake in Alphabet Inc Class A in the 4th quarter worth about $123,000. KHP Capital LLC acquired a new stake in Alphabet Inc Class A in the 1st quarter worth about $124,000. Finally, Lee Financial Co boosted its stake in Alphabet Inc Class A by 500.0% in the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after buying an additional 100 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

GOOGL has been the topic of a number of research analyst reports. Zacks Investment Research raised Alphabet Inc Class A from a “hold” rating to a “buy” rating and set a $1,131.00 price target on the stock in a research note on Monday, April 9th. Monness Crespi & Hardt reissued a “buy” rating and issued a $1,306.00 price target (up from $1,280.00) on shares of Alphabet Inc Class A in a research note on Tuesday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,250.00 price objective (up from $1,200.00) on shares of Alphabet Inc Class A in a research note on Thursday, June 28th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet Inc Class A in a research note on Friday, April 20th. Finally, Barclays reduced their price objective on Alphabet Inc Class A to $1,250.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 24th. Five investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,297.51.

Shares of NASDAQ:GOOGL opened at $1,238.16 on Friday. The stock has a market cap of $862.52 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.56 and a beta of 1.13. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet Inc Class A has a one year low of $918.60 and a one year high of $1,291.44.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.51 by $2.24. The business had revenue of $26.24 billion for the quarter, compared to the consensus estimate of $25.64 billion. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. During the same period last year, the business posted $5.01 EPS. equities analysts forecast that Alphabet Inc Class A will post 42.73 earnings per share for the current year.

Alphabet Inc Class A Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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