AGF Investments Inc. Grows Position in Alphabet Inc (NASDAQ:GOOGL)

AGF Investments Inc. raised its holdings in Alphabet Inc (NASDAQ:GOOGL) by 13.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 46,979 shares of the information services provider’s stock after acquiring an additional 5,583 shares during the quarter. AGF Investments Inc.’s holdings in Alphabet were worth $54,587,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. AGF Investments America Inc. increased its position in shares of Alphabet by 1.4% during the 1st quarter. AGF Investments America Inc. now owns 2,595 shares of the information services provider’s stock valued at $3,015,000 after purchasing an additional 36 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Alphabet by 4.8% during the 1st quarter. Apollon Wealth Management LLC now owns 173 shares of the information services provider’s stock valued at $201,000 after purchasing an additional 8 shares during the last quarter. Quadrant Private Wealth Management LLC increased its position in shares of Alphabet by 19.1% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 449 shares of the information services provider’s stock valued at $522,000 after purchasing an additional 72 shares during the last quarter. Commerce Bank increased its position in shares of Alphabet by 7.6% during the 1st quarter. Commerce Bank now owns 122,223 shares of the information services provider’s stock valued at $142,017,000 after purchasing an additional 8,615 shares during the last quarter. Finally, Hancock Whitney Corp increased its position in shares of Alphabet by 14.1% during the 1st quarter. Hancock Whitney Corp now owns 19,491 shares of the information services provider’s stock valued at $22,647,000 after purchasing an additional 2,409 shares during the last quarter. 34.29% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. Bank of America raised their price target on Alphabet from $1,372.00 to $1,420.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Tigress Financial restated a “buy” rating on shares of Alphabet in a research report on Monday, March 23rd. Monness Crespi & Hardt reduced their price target on Alphabet from $1,535.00 to $1,350.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Stifel Nicolaus raised their price target on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price target on the stock in a research report on Friday, March 13th. Four investment analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,505.34.

Shares of NASDAQ:GOOGL opened at $1,413.24 on Friday. The stock has a fifty day simple moving average of $1,281.39 and a two-hundred day simple moving average of $1,330.33. The stock has a market capitalization of $960.27 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.11 and a beta of 1.06. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,530.74. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). The company had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter in the previous year, the firm posted $9.50 EPS. As a group, equities research analysts predict that Alphabet Inc will post 41.47 EPS for the current year.

Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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