Advisors Capital Management LLC increased its position in Alphabet Inc (NASDAQ:GOOGL) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 707 shares of the information services provider’s stock after purchasing an additional 47 shares during the period. Advisors Capital Management LLC’s holdings in Alphabet were worth $798,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Well Done LLC purchased a new stake in shares of Alphabet in the first quarter worth $107,000. Private Ocean LLC lifted its holdings in shares of Alphabet by 355.6% during the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 96 shares in the last quarter. Highlander Capital Management LLC lifted its holdings in shares of Alphabet by 333.3% during the first quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock valued at $133,000 after purchasing an additional 100 shares in the last quarter. Emerald Investment Partners LLC bought a new position in shares of Alphabet during the second quarter valued at $137,000. Finally, Clearwater Capital Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at $153,000. 30.54% of the stock is currently owned by institutional investors.
NASDAQ GOOGL opened at $1,062.47 on Thursday. 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 has a 52 week low of $984.00 and a 52 week high of $1,291.44. The stock has a market capitalization of $772.18 billion, a PE ratio of 33.15, a P/E/G ratio of 1.37 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. On average, equities analysts predict that Alphabet Inc will post 45.02 EPS for the current fiscal year.
A number of research analysts have recently issued reports on GOOGL shares. Macquarie reaffirmed a “buy” rating and set a $1,250.00 price target on shares of Alphabet in a report on Thursday, September 27th. Pivotal Research lowered their price target on Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating on the stock in a report on Friday, October 12th. MKM Partners upped their price target on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $1,515.00 price target (up from $1,325.00) on shares of Alphabet in a report on Wednesday, August 29th. Finally, Wedbush started coverage on Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $1,330.17.
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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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