Perigon Wealth Management LLC increased its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 11.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,799 shares of the information services provider’s stock after buying an additional 190 shares during the quarter. Perigon Wealth Management LLC’s holdings in Alphabet were worth $2,551,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Scharf Investments LLC lifted its holdings in Alphabet by 2.7% during the 2nd quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock worth $380,000 after buying an additional 7 shares during the last quarter. Cedar Mountain Advisors LLC increased its position in 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 acquiring an additional 7 shares during the period. Droms Strauss Advisors Inc. MO ADV increased its position in Alphabet by 3.4% during the 1st quarter. Droms Strauss Advisors Inc. MO ADV now owns 246 shares of the information services provider’s stock worth $286,000 after purchasing an additional 8 shares during the period. Apollon Wealth Management LLC increased its position in Alphabet by 4.8% during the 1st quarter. Apollon Wealth Management LLC now owns 173 shares of the information services provider’s stock worth $201,000 after purchasing an additional 8 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. increased its position in Alphabet by 2.3% during the 1st quarter. Analyst IMS Investment Management Services Ltd. now owns 362 shares of the information services provider’s stock worth $420,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 34.14% of the company’s stock.
Alphabet stock opened at $1,487.95 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The firm has a market cap of $1,050.12 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,587.05. The firm’s 50 day moving average price is $1,473.93 and its two-hundred day moving average price is $1,375.65.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. As a group, equities analysts predict that Alphabet Inc will post 42.07 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on GOOGL shares. Oppenheimer restated a “buy” rating and issued a $1,445.00 price target on shares of Alphabet in a report on Wednesday, April 29th. Robert W. Baird increased their price target on Alphabet from $1,500.00 to $1,650.00 in a research note on Thursday, June 25th. Susquehanna Bancshares increased their target price on Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on 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, Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and increased their price target for the company from $1,550.00 to $1,600.00 in a report on Friday. Four analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,657.51.
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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