Stanley Laman Group Ltd. lifted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,219 shares of the information services provider’s stock after buying an additional 35 shares during the period. Alphabet accounts for approximately 1.4% of Stanley Laman Group Ltd.’s portfolio, making the stock its 12th largest holding. Stanley Laman Group Ltd.’s holdings in Alphabet were worth $5,651,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Litman Gregory Asset Management LLC bought a new stake in Alphabet in the 2nd quarter valued at about $37,000. Belvedere Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at about $38,000. Thor Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at about $45,000. Lipe & Dalton bought a new stake in Alphabet in the 2nd quarter valued at about $49,000. Finally, Smart Money Group LLC bought a new stake in Alphabet in the 2nd quarter valued at about $61,000. 33.96% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on GOOGL. Wedbush raised their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Deutsche Bank raised their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. MKM Partners reissued a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research note on Friday, August 2nd. Finally, FBN Securities set a $1,400.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $1,371.05.
Shares of GOOGL opened at $1,179.21 on Friday. The firm’s 50 day moving average is $1,159.77 and its 200-day moving average is $1,158.17. The stock has a market capitalization of $807.29 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.28 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 Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, equities research analysts forecast 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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