Alphabet Inc (GOOGL) Position Raised by Parsec Financial Management Inc.

Parsec Financial Management Inc. increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,024 shares of the information services provider’s stock after acquiring an additional 654 shares during the period. Parsec Financial Management Inc.’s holdings in Alphabet were worth $3,918,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Pure Financial Advisors Inc. lifted its position in Alphabet by 0.4% during the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after purchasing an additional 1 shares during the period. First Bank & Trust lifted its position in Alphabet by 0.3% during the second quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after purchasing an additional 2 shares during the period. Fort Pitt Capital Group LLC lifted its position in Alphabet by 0.3% during the second quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after purchasing an additional 2 shares during the period. RB Capital Management LLC lifted its position in Alphabet by 0.4% during the second quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock valued at $654,000 after purchasing an additional 3 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in Alphabet by 0.7% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock valued at $392,000 after purchasing an additional 3 shares during the period. 33.55% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have commented on GOOGL shares. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,248.00 target price for the company in a report on Tuesday. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,179.78 price objective for the company in a research note on Monday. Cowen increased their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Robert W. Baird reissued a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Tuesday, January 2nd. Finally, Pivotal Research reissued a “hold” rating and issued a $990.00 price objective on shares of Alphabet in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $1,098.50.

Alphabet Inc (GOOGL) opened at $1,112.05 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc has a 12-month low of $812.05 and a 12-month high of $1,119.16. The stock has a market cap of $769,900.00, a P/E ratio of 37.04, a PEG ratio of 1.45 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.43 by $1.14. The firm had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same quarter in the previous year, the firm earned $9.06 EPS. research analysts forecast that Alphabet Inc will post 32.34 earnings per share for the current year.

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About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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