Ironwood Investment Counsel LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 34.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,615 shares of the information services provider’s stock after purchasing an additional 665 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Alphabet were worth $3,156,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. BlackRock Inc. raised its position in shares of Alphabet by 0.7% in the second quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after purchasing an additional 128,040 shares during the period. Northern Trust Corp raised its position in shares of Alphabet by 0.8% in the second quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock valued at $4,152,625,000 after purchasing an additional 28,375 shares during the period. Bank of New York Mellon Corp raised its position in shares of Alphabet by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after purchasing an additional 24,188 shares during the period. Jennison Associates LLC raised its position in shares of Alphabet by 10.1% in the second quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock valued at $1,965,840,000 after purchasing an additional 159,959 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of Alphabet by 115,058.0% in the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after purchasing an additional 1,387,599 shares during the period. Institutional investors and hedge funds own 33.32% of the company’s stock.
GOOGL opened at $1,064.47 on Friday. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. The company has a market capitalization of $752.70 billion, a PE ratio of 33.21, a P/E/G ratio of 1.26 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $2.52. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The company had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. On average, analysts expect that Alphabet Inc will post 45.32 earnings per share for the current year.
GOOGL has been the topic of several research analyst reports. Wedbush assumed coverage on shares of Alphabet in a research report on Wednesday, October 17th. They issued an “outperform” rating and a $1,350.00 price objective on the stock. Jefferies Financial Group set a $1,200.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Thursday, December 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,500.00 price target (down from $1,515.00) on shares of Alphabet in a research report on Wednesday, November 14th. Nomura reaffirmed a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a research report on Tuesday, December 4th. Finally, Pivotal Research lowered their price target on shares of Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating on the stock in a research report on Friday, October 12th. Three investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $1,344.59.
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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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