Alta Capital Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 79,008 shares of the information services provider’s stock after buying an additional 1,001 shares during the period. Alphabet makes up 4.5% of Alta Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Alta Capital Management LLC’s holdings in Alphabet were worth $66,982,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in Alphabet by 3.0% in the fourth quarter. State Street Corp now owns 11,804,134 shares of the information services provider’s stock valued at $9,354,187,000 after buying an additional 342,368 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the fourth quarter worth $2,411,505,000. Franklin Resources Inc. raised its position in Alphabet by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 1,575,345 shares of the information services provider’s stock valued at $1,248,643,000 after buying an additional 16,006 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Alphabet by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 955,024 shares of the information services provider’s stock valued at $756,809,000 after buying an additional 35,192 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Alphabet by 12.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 789,447 shares of the information services provider’s stock valued at $625,597,000 after buying an additional 89,204 shares during the last quarter. Hedge funds and other institutional investors own 34.36% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOGL) opened at 940.81 on Friday. Alphabet Inc. has a 12-month low of $699.00 and a 12-month high of $1,008.61. The firm has a 50-day moving average of $972.78 and a 200-day moving average of $880.30. The firm has a market capitalization of $650.80 billion, a PE ratio of 31.79 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.24 by $0.49. The company had revenue of $20.12 billion during the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. During the same period last year, the business earned $7.50 EPS. Equities analysts anticipate that Alphabet Inc. will post $33.95 earnings per share for the current year.
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Several analysts recently weighed in on the company. Societe Generale set a $1,210.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday. They noted that the move was a valuation call. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,030.26 target price for the company. in a report on Wednesday. FBN Securities dropped their price target on Alphabet from $1,050.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $1,200.00 price target on shares of Alphabet in a research note on Tuesday, July 4th. Finally, Aegis reiterated a “buy” rating and issued a $1,090.00 target price on shares of Alphabet in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and forty have issued a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,015.45.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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