Atlantic Union Bankshares Corp increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,784 shares of the information services provider’s stock after purchasing an additional 293 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Alphabet were worth $5,546,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GOOGL. Advisor Group Holdings Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $79,769,000. Nordea Investment Management AB increased its position in shares of Alphabet by 115.4% during the 2nd quarter. Nordea Investment Management AB now owns 1,164,092 shares of the information services provider’s stock worth $1,620,126,000 after purchasing an additional 623,604 shares during the last quarter. BlackRock Inc. increased its position 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 purchasing an additional 445,690 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 14.3% in the 2nd 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 acquiring an additional 439,638 shares in the last quarter. Finally, Softbank Group Corp acquired a new position in Alphabet in the 2nd quarter valued at about $475,176,000. 33.78% of the stock is owned by hedge funds and other institutional investors.
NASDAQ GOOGL traded up $12.23 on Friday, reaching $1,567.70. The stock had a trading volume of 1,710,325 shares, compared to its average volume of 2,093,132. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The business’s 50-day moving average price is $1,519.73 and its 200 day moving average price is $1,433.08. The stock has a market cap of $1,066.29 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. On average, sell-side analysts predict that Alphabet Inc will post 44.87 earnings per share for the current year.
Several research firms have weighed in on GOOGL. Morgan Stanley lifted their target price on Alphabet from $1,760.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and lifted their target price for the company from $1,550.00 to $1,600.00 in a research report on Friday, July 31st. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,643.00 target price for the company. in a research report on Tuesday, October 13th. BMO Capital Markets lifted their target price on Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Canaccord Genuity lifted their target price on Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,679.91.
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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