Jackson Financial Management purchased a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 179 shares of the information services provider’s stock, valued at approximately $219,000.
Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Litman Gregory Asset Management LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $39,000. Lipe & Dalton acquired a new stake in Alphabet during the 2nd quarter worth about $49,000. Johnson Financial Group Inc. boosted its position in Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the period. Finally, Vista Private Wealth Partners. LLC acquired a new stake in Alphabet during the 3rd quarter worth about $60,000. 33.56% of the stock is currently owned by institutional investors.
Shares of Alphabet stock traded up $26.45 during trading on Thursday, hitting $1,317.46. 85,197 shares of the stock traded hands, compared to its average volume of 1,378,191. The stock has a market cap of $894.21 billion, a P/E ratio of 27.73, a PEG ratio of 1.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,299.24. The company has a fifty day moving average price of $1,238.20 and a two-hundred day moving average price of $1,180.63.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion for the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same quarter in the prior year, the firm earned $13.06 earnings per share. On average, equities research analysts expect that Alphabet Inc will post 49.05 EPS for the current fiscal year.
A number of equities research analysts have commented on GOOGL shares. Monness Crespi & Hardt set a $1,360.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Monday, October 21st. Oppenheimer set a $1,370.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Nomura restated a “buy” rating and set a $1,400.00 price objective (up from $1,300.00) on shares of Alphabet in a research report on Friday, July 26th. MKM Partners restated a “buy” rating and set a $1,450.00 price objective on shares of Alphabet in a research report on Friday, August 2nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $1,700.00 price objective (up from $1,500.00) on shares of Alphabet in a research report on Wednesday, October 23rd. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,406.25.
Alphabet Company Profile
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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