Alphabet Inc (NASDAQ:GOOGL) is Lannebo Fonder AB’s 3rd Largest Position

Lannebo Fonder AB boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 23,000 shares of the information services provider’s stock after acquiring an additional 500 shares during the quarter. Alphabet comprises about 7.6% of Lannebo Fonder AB’s investment portfolio, making the stock its 3rd biggest holding. Lannebo Fonder AB’s holdings in Alphabet were worth $24,904,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its holdings in Alphabet by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 225,042 shares of the information services provider’s stock valued at $243,545,000 after purchasing an additional 3,086 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Alphabet by 17.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,677 shares of the information services provider’s stock valued at $1,816,000 after purchasing an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. grew its holdings in Alphabet by 265.1% in the second quarter. Mizuho Securities Co. Ltd. now owns 2,472 shares of the information services provider’s stock valued at $2,677,000 after purchasing an additional 1,795 shares during the last quarter. Litman Gregory Asset Management LLC acquired a new stake in Alphabet in the second quarter valued at $37,000. Finally, Van Leeuwen & Company LLC grew its holdings in Alphabet by 2.3% in the second quarter. Van Leeuwen & Company LLC now owns 931 shares of the information services provider’s stock valued at $1,008,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 33.96% of the company’s stock.

Several research firms have weighed in on GOOGL. Cowen set a $1,500.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group upped their target price on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Needham & Company LLC set a $1,350.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Oppenheimer set a $1,370.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Loop Capital began coverage on Alphabet in a research note on Monday, June 3rd. They set a “hold” rating and a $1,250.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $1,371.05.

NASDAQ GOOGL opened at $1,164.25 on Thursday. The stock’s 50-day simple moving average is $1,156.04. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The stock has a market capitalization of $814.39 billion, a P/E ratio of 24.51, a PEG ratio of 1.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Sell-side analysts predict that Alphabet Inc will post 51.94 EPS for the current fiscal year.

Alphabet Company Profile

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 (NASDAQ:GOOGL)

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