Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by GQG Partners LLC

GQG Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 76.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,152 shares of the information services provider’s stock after acquiring an additional 87,326 shares during the quarter. Alphabet comprises approximately 1.5% of GQG Partners LLC’s investment portfolio, making the stock its 27th biggest position. GQG Partners LLC’s holdings in Alphabet were worth $493,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Seeyond increased its stake in shares of Alphabet by 10.3% in the 2nd quarter. Seeyond now owns 2,581 shares of the information services provider’s stock worth $6,302,000 after acquiring an additional 242 shares during the last quarter. Permanens Capital L.P. increased its position in shares of Alphabet by 6.3% during the 2nd quarter. Permanens Capital L.P. now owns 3,515 shares of the information services provider’s stock worth $8,583,000 after purchasing an additional 208 shares during the last quarter. Natixis Investment Managers International increased its position in shares of Alphabet by 13.0% during the 2nd quarter. Natixis Investment Managers International now owns 27,960 shares of the information services provider’s stock worth $68,272,000 after purchasing an additional 3,221 shares during the last quarter. Natixis increased its position in shares of Alphabet by 12.3% during the 2nd quarter. Natixis now owns 252,781 shares of the information services provider’s stock worth $617,238,000 after purchasing an additional 27,629 shares during the last quarter. Finally, Covington Capital Management increased its position in shares of Alphabet by 0.9% during the 2nd quarter. Covington Capital Management now owns 13,872 shares of the information services provider’s stock worth $33,873,000 after purchasing an additional 128 shares during the last quarter. 34.43% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on GOOGL. Mizuho raised their price objective on Alphabet from $2,800.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Needham & Company LLC raised their target price on Alphabet from $2,700.00 to $3,200.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. KeyCorp raised their target price on Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. MKM Partners raised their target price on Alphabet from $2,500.00 to $3,150.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Finally, BMO Capital Markets raised their target price on Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating and thirty-eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $2,884.67.

Shares of NASDAQ:GOOGL traded up $60.58 during trading on Thursday, reaching $2,812.22. The company had a trading volume of 39,081 shares, compared to its average volume of 1,525,323. The firm has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. The stock’s fifty day moving average price is $2,793.11 and its 200 day moving average price is $2,531.99. Alphabet Inc. has a fifty-two week low of $1,508.48 and a fifty-two week high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $19.89 by $7.37. The business had revenue of $50.95 billion for the quarter, compared to analyst estimates of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same quarter in the previous year, the company posted $10.13 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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