Essex Financial Services Inc. Boosts Stake in Alphabet Inc Class A (GOOGL)

Essex Financial Services Inc. raised its stake in Alphabet Inc Class A (NASDAQ:GOOGL) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,788 shares of the information services provider’s stock after acquiring an additional 79 shares during the quarter. Alphabet Inc Class A makes up approximately 1.6% of Essex Financial Services Inc.’s investment portfolio, making the stock its 14th largest position. Essex Financial Services Inc.’s holdings in Alphabet Inc Class A were worth $6,536,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GOOGL. HC Financial Advisors Inc. purchased a new stake in shares of Alphabet Inc Class A in the fourth quarter valued at approximately $616,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Alphabet Inc Class A in the first quarter valued at approximately $550,000. Massey Quick Simon & CO. LLC grew its position in shares of Alphabet Inc Class A by 98.6% in the first quarter. Massey Quick Simon & CO. LLC now owns 429 shares of the information services provider’s stock valued at $445,000 after purchasing an additional 213 shares in the last quarter. Diamant Asset Management Inc. grew its position in shares of Alphabet Inc Class A by 18.2% in the first quarter. Diamant Asset Management Inc. now owns 2,703 shares of the information services provider’s stock valued at $2,803,000 after purchasing an additional 417 shares in the last quarter. Finally, Stanley Capital Management LLC grew its position in shares of Alphabet Inc Class A by 75.6% in the first quarter. Stanley Capital Management LLC now owns 6,040 shares of the information services provider’s stock valued at $6,264,000 after purchasing an additional 2,600 shares in the last quarter. 33.43% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:GOOGL opened at $1,077.02 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc Class A has a 52 week low of $984.00 and a 52 week high of $1,291.44. The firm has a market cap of $744.29 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 1.31 and a beta of 1.06.

Alphabet Inc Class A (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. Alphabet Inc Class A had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. As a group, analysts anticipate that Alphabet Inc Class A will post 45.24 EPS for the current fiscal year.

GOOGL has been the subject of a number of analyst reports. Macquarie restated a “buy” rating and issued a $1,250.00 price target on shares of Alphabet Inc Class A in a research report on Thursday, September 27th. Pivotal Research lowered their price objective on Alphabet Inc Class A from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research report on Friday, October 12th. MKM Partners increased their price objective on Alphabet Inc Class A from $1,355.00 to $1,465.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $1,515.00 price objective (up from $1,325.00) on shares of Alphabet Inc Class A in a research report on Wednesday, August 29th. Finally, Zacks Investment Research lowered Alphabet Inc Class A from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the company’s stock. Alphabet Inc Class A has an average rating of “Buy” and an average price target of $1,333.76.

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About Alphabet Inc Class A

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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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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