Stony Point Wealth Management Inc. Buys New Holdings in Alphabet Inc Class A (GOOGL)

Stony Point Wealth Management Inc. bought a new position in shares of Alphabet Inc Class A (NASDAQ:GOOGL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 178 shares of the information services provider’s stock, valued at approximately $201,000.

A number of other large investors have also modified their holdings of GOOGL. New England Research & Management Inc. lifted its position in shares of Alphabet Inc Class A by 87.3% in the 2nd quarter. New England Research & Management Inc. now owns 751 shares of the information services provider’s stock valued at $848,000 after acquiring an additional 350 shares in the last quarter. Swarthmore Group Inc. lifted its position in shares of Alphabet Inc Class A by 6.3% in the 2nd quarter. Swarthmore Group Inc. now owns 8,050 shares of the information services provider’s stock valued at $9,090,000 after acquiring an additional 475 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Alphabet Inc Class A by 7.6% in the 1st quarter. AustralianSuper Pty Ltd now owns 126,900 shares of the information services provider’s stock valued at $131,613,000 after acquiring an additional 8,962 shares in the last quarter. Fosun International Ltd lifted its position in shares of Alphabet Inc Class A by 78.9% in the 1st quarter. Fosun International Ltd now owns 5,690 shares of the information services provider’s stock valued at $5,901,000 after acquiring an additional 2,509 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its position in shares of Alphabet Inc Class A by 117.5% in the 1st quarter. Hilltop Holdings Inc. now owns 1,855 shares of the information services provider’s stock valued at $1,924,000 after acquiring an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 33.56% of the company’s stock.

NASDAQ:GOOGL opened at $1,207.36 on Friday. Alphabet Inc Class A has a 1 year low of $955.55 and a 1 year high of $1,291.44. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $830.88 billion, a P/E ratio of 37.67, a PEG ratio of 1.51 and a beta of 1.10.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.51 by $2.24. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $26.24 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the business posted $5.01 EPS. research analysts forecast that Alphabet Inc Class A will post 42.46 EPS for the current year.

A number of research firms have issued reports on GOOGL. B. Riley reiterated a “buy” rating on shares of Alphabet Inc Class A in a research report on Monday, July 16th. Nomura began coverage on shares of Alphabet Inc Class A in a research report on Tuesday, July 10th. They issued a “buy” rating and a $1,400.00 target price for the company. ValuEngine upgraded shares of Alphabet Inc Class A from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Monness Crespi & Hardt increased their target price on shares of Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Citigroup reiterated a “buy” rating and issued a $1,400.00 target price (up previously from $1,350.00) on shares of Alphabet Inc Class A in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-one have issued a buy rating to the company. Alphabet Inc Class A presently has a consensus rating of “Buy” and a consensus price target of $1,317.07.

About Alphabet Inc Class A

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.

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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