BTC Capital Management Inc. Increases Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

BTC Capital Management Inc. boosted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,195 shares of the information services provider’s stock after acquiring an additional 423 shares during the quarter. Alphabet accounts for approximately 1.7% of BTC Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. BTC Capital Management Inc.’s holdings in Alphabet were worth $12,022,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Scharf Investments LLC boosted its holdings in Alphabet by 2.7% during the 2nd quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 7 shares during the period. Cedar Mountain Advisors LLC raised its position in Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares in the last quarter. CVA Family Office LLC raised its position in Alphabet by 11.7% in the 2nd quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock valued at $95,000 after purchasing an additional 7 shares in the last quarter. AFT Forsyth AND Company Inc. raised its position in Alphabet by 0.8% in the 2nd quarter. AFT Forsyth AND Company Inc. now owns 911 shares of the information services provider’s stock valued at $1,292,000 after purchasing an additional 7 shares in the last quarter. Finally, Guardian Capital Advisors LP raised its position in Alphabet by 0.5% in the 2nd quarter. Guardian Capital Advisors LP now owns 1,381 shares of the information services provider’s stock valued at $1,533,000 after purchasing an additional 7 shares in the last quarter. Institutional investors own 33.78% of the company’s stock.

Shares of GOOGL stock opened at $1,567.70 on Friday. The business’s 50 day moving average is $1,519.73 and its two-hundred day moving average is $1,433.08. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,726.10. The company has a market capitalization of $1,066.29 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The firm had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. As a group, equities analysts predict that Alphabet Inc will post 44.87 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on GOOGL shares. Mizuho increased their price target on Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. BMO Capital Markets increased their price target on Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Moffett Nathanson increased their price target on Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. 140166 increased their price target on Alphabet from $1,550.00 to $1,850.00 and gave the company a “positive” rating in a research report on Friday, July 31st. Finally, Barclays increased their price target on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty-two have given a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,679.91.

About Alphabet

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.

Featured Story: Why Invest in Dividend Kings

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.