WFA of San Diego LLC bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 933 shares of the information services provider’s stock, valued at approximately $1,324,000.
A number of other institutional investors also recently bought and sold shares of GOOGL. BlackRock Inc. raised its stake in shares of Alphabet by 2.2% during the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock worth $29,163,413,000 after buying an additional 445,690 shares in the last quarter. State Street Corp raised its position in Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after purchasing an additional 45,599 shares during the period. Geode Capital Management LLC raised its position in Alphabet by 3.5% in the first quarter. Geode Capital Management LLC now owns 4,844,024 shares of the information services provider’s stock valued at $5,618,631,000 after purchasing an additional 165,173 shares during the period. Wellington Management Group LLP raised its position in Alphabet by 12.1% in the first quarter. Wellington Management Group LLP now owns 4,485,396 shares of the information services provider’s stock valued at $5,211,807,000 after purchasing an additional 483,219 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Alphabet by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock valued at $4,976,599,000 after purchasing an additional 439,638 shares during the period. 33.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on GOOGL. Wells Fargo & Company reaffirmed a “buy” rating and set a $1,750.00 target price (up from $1,575.00) on shares of Alphabet in a research report on Monday, July 27th. Canaccord Genuity lifted their target price on Alphabet from $1,700.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. KeyCorp began coverage on Alphabet in a research report on Monday. They set an “overweight” rating and a $1,955.00 target price on the stock. JMP Securities lifted their price target on Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,616.00 price target for the company in a research note on Monday, July 13th. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,666.49.
GOOGL traded down $17.40 during trading on Wednesday, hitting $1,517.72. 53,665 shares of the company’s stock were exchanged, compared to its average volume of 2,132,642. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $1,548.44 and its two-hundred day moving average is $1,393.53. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,726.10. The stock has a market cap of $1,044.13 billion, a P/E ratio of 33.77, a PEG ratio of 2.08 and a beta of 1.07.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. On average, sell-side analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current year.
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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