Cohen Klingenstein LLC increased its position in Alphabet Inc (NASDAQ:GOOGL) by 5.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 16,404 shares of the information services provider’s stock after purchasing an additional 825 shares during the period. Alphabet accounts for about 1.3% of Cohen Klingenstein LLC’s holdings, making the stock its 16th biggest position. Cohen Klingenstein LLC’s holdings in Alphabet were worth $20,032,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Neville Rodie & Shaw Inc. boosted its stake in Alphabet by 2.7% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 16,674 shares of the information services provider’s stock worth $18,054,000 after purchasing an additional 433 shares during the period. Bath Savings Trust Co boosted its stake in Alphabet by 3.0% in the 2nd quarter. Bath Savings Trust Co now owns 10,102 shares of the information services provider’s stock worth $10,939,000 after purchasing an additional 290 shares during the period. Thomasville National Bank boosted its stake in Alphabet by 5.0% in the 2nd quarter. Thomasville National Bank now owns 212 shares of the information services provider’s stock worth $230,000 after purchasing an additional 10 shares during the period. Park National Corp OH boosted its stake in Alphabet by 69.6% in the 2nd quarter. Park National Corp OH now owns 13,999 shares of the information services provider’s stock worth $15,158,000 after purchasing an additional 5,746 shares during the period. Finally, Vickerman & Driscoll Financial Advisors Inc. bought a new position in Alphabet in the 2nd quarter worth about $1,765,000. 33.52% of the stock is owned by institutional investors.
Several research analysts have commented on GOOGL shares. JPMorgan Chase & Co. raised their target price on Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Raymond James set a $1,360.00 price target on Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group lifted their price target on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. MKM Partners reiterated a “buy” rating and set a $1,450.00 price target on shares of Alphabet in a research report on Friday, August 2nd. Finally, Canaccord Genuity lifted their price target on Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,375.78.
Shares of NASDAQ GOOGL opened at $1,244.41 on Friday. The stock has a market cap of $862.87 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.46 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The stock’s 50-day moving average is $1,216.08 and its 200 day moving average is $1,175.85.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, analysts forecast that Alphabet Inc will post 51.22 EPS for the current fiscal year.
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.
Featured Story: What is the S&P 500 Index?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.