Sandy Spring Bank increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,615 shares of the information services provider’s stock after purchasing an additional 349 shares during the period. Sandy Spring Bank’s holdings in Alphabet were worth $7,163,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet during the second quarter worth about $37,000. Belvedere Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth about $38,000. Thor Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth about $45,000. Lipe & Dalton bought a new stake in shares of Alphabet during the second quarter worth about $49,000. Finally, Smart Money Group LLC bought a new stake in shares of Alphabet during the second quarter worth about $61,000. Institutional investors own 33.96% of the company’s stock.
Shares of GOOGL opened at $1,179.21 on Friday. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The business’s 50 day moving average price is $1,159.77 and its two-hundred day moving average price is $1,158.17. The firm has a market cap of $807.29 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $30.90 billion. Research analysts predict that Alphabet Inc will post 51.94 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. Oppenheimer set a $1,370.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. KeyCorp restated an “overweight” rating and set a $1,516.00 price target (up from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Loop Capital assumed coverage on Alphabet in a report on Monday, June 3rd. They set a “hold” rating and a $1,250.00 price target on the stock. Finally, Macquarie set a $1,300.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,371.05.
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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