Eagle Ridge Investment Management grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,388 shares of the information services provider’s stock after buying an additional 129 shares during the quarter. Alphabet accounts for about 3.0% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 3rd biggest position. Eagle Ridge Investment Management’s holdings in Alphabet were worth $17,905,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Alphabet during the 2nd quarter valued at $102,000. Parkside Financial Bank & Trust lifted its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares during the last quarter. Odey Holdings AG lifted its holdings in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the last quarter. Farmers National Bank lifted its holdings in shares of Alphabet by 2.7% during 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, Lloyds Banking Group plc purchased a new stake in shares of Alphabet during the 2nd quarter valued at $133,000. 33.55% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,130.65 on Friday. The company has a market cap of $783,260.00, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. 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 $1,131.30.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion during 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 posted $9.06 earnings per share. sell-side analysts forecast that Alphabet Inc will post 32.34 EPS for the current year.
A number of brokerages recently issued reports on GOOGL. Stifel Nicolaus raised their target price on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Cowen raised their target price on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Bank of America restated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a research report on Thursday, October 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,100.06.
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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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