V Wealth Advisors LLC Increases Position in Alphabet Inc (NASDAQ:GOOGL)

V Wealth Advisors LLC raised its position in Alphabet Inc (NASDAQ:GOOGL) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,330 shares of the information services provider’s stock after purchasing an additional 521 shares during the period. Alphabet accounts for 1.2% of V Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest holding. V Wealth Advisors LLC’s holdings in Alphabet were worth $4,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spence Asset Management grew its position in shares of Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares during the last quarter. OmniStar Financial Group Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $44,000. Cedar Mountain Advisors LLC grew its position in shares of Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares during the last quarter. Center for Financial Planning Inc. grew its position in shares of Alphabet by 35.5% in the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after buying an additional 11 shares during the last quarter. Finally, Danda Trouve Investment Management Inc. grew its position in shares of Alphabet by 42.9% in the 1st quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock valued at $58,000 after buying an additional 15 shares during the last quarter. 34.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the stock. Loop Capital increased their target price on shares of Alphabet from $1,320.00 to $1,400.00 in a research report on Thursday, April 9th. SunTrust Banks raised their price objective on shares of Alphabet from $1,805.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $1,800.00 price objective on shares of Alphabet in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Credit Suisse Group raised their price objective on shares of Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a hold rating and forty have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,657.51.

Shares of NASDAQ GOOGL opened at $1,487.95 on Friday. The company has a market cap of $1,050.12 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. Alphabet Inc has a 12 month low of $1,008.87 and a 12 month high of $1,587.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The company has a 50-day simple moving average of $1,473.93 and a 200-day simple moving average of $1,375.65.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping analysts’ consensus estimates of $8.43 by $1.70. The business had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. On average, analysts anticipate that Alphabet Inc will post 42.07 EPS for the current year.

About Alphabet

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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