Palisades Hudson Asset Management L.P. Continues to Hold Position in Alphabet Inc. (GOOGL)

Palisades Hudson Asset Management L.P. held its stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 831 shares of the information services provider’s stock at the end of the second quarter. Alphabet makes up approximately 0.5% of Palisades Hudson Asset Management L.P.’s portfolio, making the stock its 23rd largest position. Palisades Hudson Asset Management L.P.’s holdings in Alphabet were worth $773,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State Street Corp lifted its position in shares of Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after buying an additional 142,214 shares in the last quarter. Legal & General Group Plc raised its stake in Alphabet by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 1,441,831 shares of the information services provider’s stock valued at $1,340,528,000 after purchasing an additional 42,001 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Alphabet by 7.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,316,448 shares of the information services provider’s stock valued at $1,223,875,000 after purchasing an additional 85,800 shares during the last quarter. Bank of Montreal Can raised its stake in Alphabet by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock valued at $1,017,719,000 after purchasing an additional 8,375 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Alphabet by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,038,084 shares of the information services provider’s stock valued at $965,086,000 after purchasing an additional 43,543 shares during the last quarter. Hedge funds and other institutional investors own 33.81% of the company’s stock.

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Several research firms recently commented on GOOGL. J P Morgan Chase & Co increased their price objective on Alphabet from $1,075.00 to $1,115.00 and gave the company an “overweight” rating in a research note on Saturday, July 22nd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a research note on Tuesday, July 25th. UBS AG reissued an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Stifel Nicolaus increased their price objective on Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,088.53.

Alphabet Inc. (NASDAQ:GOOGL) opened at $1,035.89 on Friday. The company has a market capitalization of $723,000.00, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. Alphabet Inc. has a 12-month low of $753.36 and a 12-month high of $1,063.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the previous year, the company posted $9.06 earnings per share. equities analysts expect that Alphabet Inc. will post 32.15 EPS for the current year.

About Alphabet

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)

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