Frontier Wealth Management LLC bought a new position in Alphabet Inc (NASDAQ:GOOGL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,933 shares of the information services provider’s stock, valued at approximately $7,375,000. Alphabet comprises about 1.1% of Frontier Wealth Management LLC’s holdings, making the stock its 19th biggest position.
A number of other large investors have also modified their holdings of the business. State of Alaska Department of Revenue purchased a new stake in Alphabet in the 2nd quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $108,000. Parkside Financial Bank & Trust increased its holdings in Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares in the last quarter. Lloyds Banking Group plc purchased a new stake in Alphabet in the 2nd quarter worth approximately $133,000. Finally, Farmers National Bank increased its holdings in Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after acquiring an additional 4 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.
GOOGL has been the subject of a number of research reports. Evercore ISI initiated coverage on Alphabet in a research report on Tuesday, December 5th. They set an “outperform” rating for the company. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 price target on the stock in a report on Monday, December 4th. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Citigroup reiterated a “buy” rating on shares of Alphabet in a research note on Monday, October 30th. Finally, Stifel Nicolaus increased their target price on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,089.17.
Alphabet Inc (NASDAQ GOOGL) opened at $1,049.38 on Monday. The firm has a market capitalization of $724,800.00, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90. 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 Inc has a 12 month low of $789.62 and a 12 month high of $1,080.00.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ 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 forecast that Alphabet Inc will post 32.34 EPS for the current fiscal year.
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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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