Natixis Advisors L.P. Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Natixis Advisors L.P. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 138,107 shares of the information services provider’s stock after purchasing an additional 11,257 shares during the quarter. Alphabet comprises 1.6% of Natixis Advisors L.P.’s holdings, making the stock its 5th biggest position. Natixis Advisors L.P.’s holdings in Alphabet were worth $337,228,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Cohen Investment Advisors LLC raised its stake in shares of Alphabet by 22,787.8% in the first quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock worth $2,861,000 after purchasing an additional 350,477 shares during the last quarter. Jennison Associates LLC increased its position in Alphabet by 21.3% during the second quarter. Jennison Associates LLC now owns 1,742,830 shares of the information services provider’s stock valued at $4,255,625,000 after acquiring an additional 306,146 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in Alphabet during the first quarter valued at $595,998,000. Parnassus Investments CA increased its position in Alphabet by 46.7% during the second quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock valued at $1,692,336,000 after acquiring an additional 220,762 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Alphabet by 101.2% during the first quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock valued at $784,586,000 after acquiring an additional 191,361 shares during the last quarter. 34.43% of the stock is currently owned by institutional investors and hedge funds.

GOOGL traded down $87.78 during trading on Tuesday, hitting $2,733.66. 17,782 shares of the stock were exchanged, compared to its average volume of 1,520,598. The firm has a 50 day simple moving average of $2,774.61 and a 200 day simple moving average of $2,477.20. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 1 year low of $1,433.23 and a 1 year high of $2,925.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.89 by $7.37. The business had revenue of $50.95 billion for the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same quarter last year, the firm earned $10.13 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

A number of analysts have commented on GOOGL shares. Canaccord Genuity upped their price target on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Truist Securities upped their price target on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Needham & Company LLC upped their price target on Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Stifel Nicolaus upped their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Finally, JMP Securities upped their price objective on Alphabet from $2,850.00 to $3,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $2,846.21.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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