GaveKal Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,944 shares of the company’s stock after buying an additional 1,387 shares during the period. Alphabet comprises approximately 2.6% of GaveKal Capital LLC’s portfolio, making the stock its 19th largest position. GaveKal Capital LLC’s holdings in Alphabet were worth $8,403,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. SevenBridge Financial Group LLC bought a new stake in shares of Alphabet during the first quarter worth about $120,000. Peoples Financial Services CORP. boosted its position in shares of Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the last quarter. Cacti Asset Management LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $162,000. Founders Capital Management LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $196,000. Finally, Oakworth Capital Inc. boosted its position in shares of Alphabet by 4.9% in the second quarter. Oakworth Capital Inc. now owns 277 shares of the company’s stock worth $207,000 after buying an additional 13 shares during the last quarter. Institutional investors own 34.12% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.30% during mid-day trading on Friday, hitting $800.71. 1,163,899 shares of the stock traded hands. The company has a 50 day moving average of $799.75 and a 200-day moving average of $759.77. The stock has a market cap of $550.31 billion, a PE ratio of 31.02 and a beta of 1.00. Alphabet Inc. has a 12-month low of $667.24 and a 12-month high of $819.06.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities research analysts forecast that Alphabet Inc. will post $34.11 earnings per share for the current year.
GOOGL has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $950.00 price objective on shares of Alphabet in a research note on Friday, September 9th. Wedbush cut shares of Alphabet from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $7.20 to $800.00 in a research note on Tuesday, September 27th. Susquehanna reissued a “positive” rating and issued a $930.00 price objective on shares of Alphabet in a research note on Monday, July 18th. Jefferies Group reissued a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Monday, July 18th. Finally, Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $803.74 price objective for the company. in a research note on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus target price of $926.06.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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