Cornerstone Capital Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,158 shares of the information services provider’s stock after purchasing an additional 278 shares during the quarter. Alphabet accounts for 2.5% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 22nd biggest position. Cornerstone Capital Inc.’s holdings in Alphabet were worth $13,162,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOGL. State of Alaska Department of Revenue purchased a new position in shares of Alphabet in the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Alphabet in the first quarter valued at about $108,000. Parkside Financial Bank & Trust increased its position in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Lloyds Banking Group plc purchased a new position in shares of Alphabet in the second quarter valued at about $133,000. Finally, Farmers National Bank increased its position in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares during the period. Institutional investors own 33.81% of the company’s stock.
A number of equities analysts have issued reports on GOOGL shares. SunTrust Banks, Inc. restated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. Cantor Fitzgerald restated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, October 24th. Wells Fargo & Company restated an “outperform” rating and issued a $1,150.00 price objective on shares of Alphabet in a research report on Saturday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $1,258.00 target price (up previously from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. Finally, Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price on the stock. in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $1,088.53.
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Shares of Alphabet Inc. (NASDAQ GOOGL) opened at $1,048.47 on Friday. Alphabet Inc. has a twelve month low of $753.36 and a twelve month high of $1,063.62. The company has a market cap of $720,098.75, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. During the same period in the prior year, the company earned $9.06 earnings per share. equities research analysts predict that Alphabet Inc. will post 32.15 EPS for the current year.
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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