CFO4Life L.P. increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 693 shares of the company’s stock after buying an additional 74 shares during the period. CFO4Life L.P.’s holdings in Alphabet were worth $488,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its stake in shares of Alphabet by 144.9% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 169 shares of the company’s stock valued at $119,000 after buying an additional 100 shares in the last quarter. SevenBridge Financial Group LLC bought a new position in Alphabet during the first quarter worth about $120,000. Dividend Assets Capital LLC bought a new position in Alphabet during the second quarter worth about $120,000. Peoples Financial Services CORP. boosted its position in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock valued at $155,000 after buying an additional 5 shares in the last quarter. Finally, Cacti Asset Management LLC purchased a new position in Alphabet during the second quarter valued at approximately $162,000. 34.12% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOGL) traded down 1.37% during trading on Thursday, reaching $800.61. The company’s stock had a trading volume of 635,576 shares. The firm has a market capitalization of $550.24 billion, a price-to-earnings ratio of 31.02 and a beta of 1.00. The stock’s 50-day moving average is $800.96 and its 200 day moving average is $760.94. Alphabet Inc. has a 52-week low of $670.70 and a 52-week high of $819.86.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, analysts predict that Alphabet Inc. will post $34.11 EPS for the current fiscal year.
Several equities analysts have commented on the stock. Robert W. Baird reissued a “buy” rating on shares of Alphabet in a research report on Sunday, July 17th. Credit Suisse Group AG reiterated a “buy” rating and issued a $920.00 price objective on shares of Alphabet in a research note on Sunday, July 17th. Bank of America Corp. reiterated a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a research report on Sunday, July 10th. Finally, B. Riley restated a “buy” rating and set a $950.00 price target on shares of Alphabet in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $926.50.
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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