Garde Capital Inc. Boosts Stake in Alphabet Inc (NASDAQ:GOOGL)

Garde Capital Inc. lifted its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,621 shares of the information services provider’s stock after purchasing an additional 156 shares during the period. Garde Capital Inc.’s holdings in Alphabet were worth $3,717,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Scharf Investments LLC increased its stake in shares of Alphabet by 2.7% during the 2nd quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock worth $380,000 after purchasing an additional 7 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares in the last quarter. CVA Family Office LLC grew its stake in Alphabet by 11.7% in the 2nd quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock valued at $95,000 after buying an additional 7 shares in the last quarter. AFT Forsyth AND Company Inc. grew its stake in Alphabet by 0.8% in the 2nd quarter. AFT Forsyth AND Company Inc. now owns 911 shares of the information services provider’s stock valued at $1,292,000 after buying an additional 7 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its stake in Alphabet by 0.5% in the 2nd quarter. Guardian Capital Advisors LP now owns 1,381 shares of the information services provider’s stock valued at $1,533,000 after buying an additional 7 shares in the last quarter. Institutional investors own 33.78% of the company’s stock.

Shares of NASDAQ GOOGL traded up $26.29 during midday trading on Tuesday, hitting $1,535.12. 1,149,305 shares of the company traded hands, compared to its average volume of 2,132,642. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The stock has a 50-day moving average price of $1,548.42 and a 200 day moving average price of $1,393.09. The firm has a market cap of $1,026.25 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.08 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities analysts expect that Alphabet Inc will post 44.74 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. Goldman Sachs Group lifted their price objective on shares of Alphabet from $1,425.00 to $1,775.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Wells Fargo & Company reissued a “buy” rating and issued a $1,750.00 price target (up from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Credit Suisse Group raised their price target on shares of Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Canaccord Genuity raised their price target on shares of Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, KeyCorp started coverage on shares of Alphabet in a report on Monday. They issued an “overweight” rating and a $1,955.00 price target for the company. Four analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,666.49.

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.

Further Reading: Stocks Increasing Dividends

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