Bristlecone Advisors LLC Raises Holdings in Alphabet Inc. (GOOGL)

Bristlecone Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,499 shares of the information services provider’s stock after purchasing an additional 170 shares during the period. Alphabet makes up approximately 1.4% of Bristlecone Advisors LLC’s holdings, making the stock its 15th biggest position. Bristlecone Advisors LLC’s holdings in Alphabet were worth $4,183,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOGL. Pure Financial Advisors Inc. lifted its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock worth $258,000 after acquiring an additional 1 shares during the period. Delta Asset Management LLC TN lifted its holdings in shares of Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares during the period. Baystate Wealth Management LLC lifted its holdings in shares of Alphabet by 0.7% during the 2nd quarter. Baystate Wealth Management LLC now owns 295 shares of the information services provider’s stock worth $288,000 after acquiring an additional 2 shares during the period. RB Capital Management LLC lifted its holdings in shares of Alphabet by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock worth $654,000 after acquiring an additional 3 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Alphabet by 0.7% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock worth $392,000 after acquiring an additional 3 shares during the period. 33.85% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. J P Morgan Chase & Co raised their price objective on shares of Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a report on Saturday, July 22nd. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a report on Tuesday, July 25th. UBS AG reaffirmed an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and raised their price objective for the stock from $967.93 to $1,000.00 in a report on Thursday, June 15th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,057.04.

Alphabet Inc. (NASDAQ GOOGL) opened at 993.64 on Monday. The company has a market cap of $688.47 billion, a price-to-earnings ratio of 36.01 and a beta of 0.96. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61. The firm has a 50-day moving average of $947.52 and a 200-day moving average of $937.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). The business had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the company posted $8.42 earnings per share. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://transcriptdaily.com/2017/10/09/bristlecone-advisors-llc-raises-holdings-in-alphabet-inc-googl.html.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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

Leave a Reply