16 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Financial Insights Inc.

Financial Insights Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 16 shares of the information services provider’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Cohen Investment Advisors LLC grew its stake in shares of Alphabet by 22,787.8% during the 1st quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock worth $2,861,000 after purchasing an additional 350,477 shares during the period. Whale Rock Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $595,998,000. Parnassus Investments CA grew its stake in shares of Alphabet by 46.7% during the 2nd quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock worth $1,692,336,000 after purchasing an additional 220,762 shares during the period. Jennison Associates LLC grew its stake in shares of Alphabet by 16.0% during the 1st quarter. Jennison Associates LLC now owns 1,436,684 shares of the information services provider’s stock worth $2,963,189,000 after purchasing an additional 197,838 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of Alphabet by 101.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock worth $784,586,000 after purchasing an additional 191,361 shares during the period. 34.43% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently issued reports on GOOGL. Susquehanna lifted their price target on shares of Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Susquehanna Bancshares lifted their price target on shares of Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Morgan Stanley lifted their price target on shares of Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $2,818.00 price target on the stock. in a research note on Tuesday, June 29th. Finally, Canaccord Genuity lifted their price target on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $2,846.21.

NASDAQ GOOGL traded down $62.46 during trading on Monday, hitting $2,753.54. The stock had a trading volume of 45,093 shares, compared to its average volume of 1,526,124. The company has a market capitalization of $1.84 trillion, a PE ratio of 29.84, a PEG ratio of 1.83 and a beta of 1.00. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $2,742.03 and a 200 day moving average price of $2,445.26. Alphabet Inc. has a twelve month low of $1,402.15 and a twelve month 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 for the quarter, beating the consensus estimate of $19.89 by $7.37. The company had revenue of $50.95 billion during the quarter, compared to the consensus estimate of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same period in the previous year, the company posted $10.13 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current 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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