Resources Management Corp CT ADV Invests $5.10 Million in Alphabet Inc (NASDAQ:GOOGL)

Resources Management Corp CT ADV purchased a new position in Alphabet Inc (NASDAQ:GOOGL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,172 shares of the information services provider’s stock, valued at approximately $5,095,000.

Other hedge funds also recently bought and sold shares of the company. Roof Eidam & Maycock ADV purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $33,000. Litman Gregory Asset Management LLC purchased a new position in Alphabet during the second quarter valued at approximately $37,000. Garrett Wealth Advisory Group LLC bought a new position in Alphabet in the third quarter worth approximately $39,000. Johnson Financial Group Inc. raised its stake in Alphabet by 26.3% in the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after buying an additional 10 shares in the last quarter. Finally, Vista Private Wealth Partners. LLC bought a new position in Alphabet in the third quarter worth approximately $60,000. 33.57% of the stock is currently owned by institutional investors.

Alphabet stock traded up $24.20 during mid-day trading on Wednesday, reaching $1,318.94. 1,772,749 shares of the company traded hands, compared to its average volume of 1,245,949. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,333.92. The company has a market capitalization of $909.63 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The firm’s fifty day moving average is $1,284.72 and its two-hundred day moving average is $1,193.25.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). The company had revenue of $33.01 billion for the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. During the same quarter in the previous year, the firm posted $13.06 earnings per share. As a group, equities research analysts predict that Alphabet Inc will post 49.05 earnings per share for the current year.

GOOGL has been the topic of several recent research reports. Bank of America reaffirmed a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research report on Thursday, October 24th. SunTrust Banks reissued a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research report on Monday, October 28th. They noted that the move was a valuation call. KeyCorp upped their price objective on Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Jefferies Financial Group raised their price objective on Alphabet from $1,500.00 to $1,550.00 in a research report on Tuesday, October 29th. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,322.00 target price on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1,415.41.

About Alphabet

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.

Featured Story: How do analysts define an oversold condition?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit