First Midwest Bank Trust Division raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 90.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,429 shares of the information services provider’s stock after acquiring an additional 1,628 shares during the period. First Midwest Bank Trust Division’s holdings in Alphabet were worth $3,187,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in shares of Alphabet in the 2nd quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet in the 1st quarter valued at $108,000. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% in the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 2 shares during the last quarter. Farmers National Bank increased its stake in shares of Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in shares of Alphabet by 58.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after purchasing an additional 56 shares during the last quarter. 33.88% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a research note on Sunday, July 30th. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a research note on Thursday, August 10th. SunTrust Banks, Inc. assumed coverage on Alphabet in a research note on Tuesday, August 15th. They issued a “buy” rating and a $1,100.00 price target on the stock. Robert W. Baird reiterated a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a research note on Monday, September 11th. Finally, KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,053.45.
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Alphabet Inc. (NASDAQ:GOOGL) traded down 0.51% during trading on Friday, hitting $935.29. The stock had a trading volume of 1,994,265 shares. The stock’s 50-day moving average price is $940.56 and its 200-day moving average price is $926.45. The company has a market capitalization of $648.04 billion, a P/E ratio of 33.90 and a beta of 0.98. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the previous year, the business posted $8.42 earnings per share. Analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current year.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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