Atlantic Trust LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 605.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,364 shares of the information services provider’s stock after buying an additional 2,029 shares during the period. Alphabet makes up about 1.7% of Atlantic Trust LLC’s holdings, making the stock its 23rd largest position. Atlantic Trust LLC’s holdings in Alphabet were worth $2,004,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of GOOGL. RB Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter worth $534,000. Lebenthal Asset Management LLC increased its stake in shares of Alphabet by 3.8% in the fourth quarter. Lebenthal Asset Management LLC now owns 1,882 shares of the information services provider’s stock worth $1,492,000 after buying an additional 69 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Alphabet during the fourth quarter worth $341,958,000. Independent Advisor Alliance bought a new stake in shares of Alphabet during the fourth quarter worth $4,860,000. Finally, Archford Capital Strategies LLC increased its stake in shares of Alphabet by 87.7% in the fourth quarter. Archford Capital Strategies LLC now owns 304 shares of the information services provider’s stock worth $240,000 after buying an additional 142 shares during the last quarter. 34.12% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (GOOGL) traded up 1.62% during midday trading on Tuesday, reaching $935.83. The company’s stock had a trading volume of 808,521 shares. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The firm has a market cap of $648.42 billion, a price-to-earnings ratio of 33.92 and a beta of 0.99. The company has a 50 day moving average price of $952.25 and a 200 day moving average price of $914.26.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the prior year, the company posted $8.42 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post $30.60 EPS for the current year.
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GOOGL has been the subject of a number of research analyst reports. SunTrust Banks, Inc. initiated coverage on Alphabet in a research note on Tuesday, August 15th. They issued a “buy” rating and a $1,100.00 price target for the company. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a research note on Thursday, August 10th. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a research note on Wednesday, August 9th. Finally, Mizuho reiterated a “buy” rating and issued a $1,220.00 price target on shares of Alphabet in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,053.45.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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