Blacksheep Fund Management Ltd Buys 20,228 Shares of Alphabet Inc (NASDAQ:GOOGL)

Blacksheep Fund Management Ltd lifted its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 70.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,978 shares of the information services provider’s stock after purchasing an additional 20,228 shares during the period. Alphabet makes up about 28.1% of Blacksheep Fund Management Ltd’s investment portfolio, making the stock its biggest position. Blacksheep Fund Management Ltd’s holdings in Alphabet were worth $56,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Stephenson National Bank & Trust acquired a new position in Alphabet in the fourth quarter valued at approximately $27,000. Cox Capital Mgt LLC acquired a new position in Alphabet in the first quarter valued at approximately $27,000. BigSur Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $33,000. Cedar Mountain Advisors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $35,000. Finally, HighMark Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $34,000. Institutional investors own 34.22% of the company’s stock.

Several brokerages recently weighed in on GOOGL. Loop Capital increased their price objective on shares of Alphabet from $1,320.00 to $1,400.00 in a report on Thursday, April 9th. Independent Research raised shares of Alphabet to a “buy” rating and set a $1,520.00 target price for the company in a research note on Friday, March 13th. SunTrust Banks upped their target price on shares of Alphabet from $1,350.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, April 24th. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Mizuho upped their target price on shares of Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company. Alphabet presently has an average rating of “Buy” and an average target price of $1,510.46.

Shares of Alphabet stock traded down $1.25 during trading on Tuesday, reaching $1,433.62. 711,976 shares of the company traded hands, compared to its average volume of 1,690,995. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74. The company has a 50 day moving average price of $1,336.00 and a 200-day moving average price of $1,336.76. The firm has a market capitalization of $979.26 billion, a PE ratio of 28.94, a P/E/G ratio of 2.15 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. During the same quarter in the previous year, the firm earned $9.50 EPS. Equities research analysts expect that Alphabet Inc will post 41.47 earnings per share for the current year.

Alphabet Company 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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