Riverbridge Partners LLC Buys 389 Shares of Alphabet Inc (NASDAQ:GOOGL)

Riverbridge Partners LLC increased its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,571 shares of the information services provider’s stock after acquiring an additional 389 shares during the period. Riverbridge Partners LLC’s holdings in Alphabet were worth $25,120,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Thoroughbred Financial Services LLC raised its position in Alphabet by 205,910.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares during the last quarter. Nuveen Asset Management LLC raised its position in Alphabet by 2,010.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock valued at $2,397,786,000 after purchasing an additional 2,109,515 shares during the last quarter. Invesco Ltd. raised its position in Alphabet by 37.1% in the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after purchasing an additional 1,285,824 shares during the last quarter. Packer & Co Ltd raised its position in Alphabet by 4,018.6% in the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares during the last quarter. Finally, Veritas Asset Management LLP raised its position in Alphabet by 52.9% in the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock valued at $1,114,175,000 after purchasing an additional 355,900 shares during the last quarter. Institutional investors and hedge funds own 33.50% of the company’s stock.

Shares of Alphabet stock opened at $1,215.71 on Friday. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97. The business has a fifty day simple moving average of $1,206.68 and a 200 day simple moving average of $1,174.16. The stock has a market cap of $833.74 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Analysts expect that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Several equities analysts have issued reports on GOOGL shares. Mizuho lifted their price objective on Alphabet from $1,350.00 to $1,400.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $1,287.00 price objective on shares of Alphabet in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Wedbush lifted their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,375.78.

Alphabet 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 (NASDAQ:GOOGL)

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