Alpine Group USVI LLC Makes New $30.51 Million Investment in Alphabet Inc (NASDAQ:GOOGL)

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Alpine Group USVI LLC purchased a new position in Alphabet Inc (NASDAQ:GOOGL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,984 shares of the information services provider’s stock, valued at approximately $30,509,000. Alphabet comprises approximately 7.8% of Alpine Group USVI LLC’s holdings, making the stock its 3rd largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Thoroughbred Financial Services LLC raised its holdings in shares of Alphabet by 205,910.9% during the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after purchasing an additional 3,391,353 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Alphabet by 2,010.7% during the second quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock worth $2,397,786,000 after purchasing an additional 2,109,515 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Alphabet by 37.1% during the second quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after purchasing an additional 1,285,824 shares during the last quarter. Packer & Co Ltd raised its holdings in shares of Alphabet by 4,018.6% during the second quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock worth $25,202,000 after purchasing an additional 935,325 shares during the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Alphabet by 52.9% during the second quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock worth $1,114,175,000 after purchasing an additional 355,900 shares during the last quarter. 33.50% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. FBN Securities set a $1,400.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Alphabet from $1,425.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Susquehanna Bancshares raised their price target on shares of Alphabet to $1,550.00 in a research report on Friday, July 26th. Finally, Canaccord Genuity raised their price target on shares of Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,375.78.

Shares of NASDAQ GOOGL opened at $1,215.71 on Friday. The company’s 50-day simple moving average is $1,206.68 and its 200-day simple moving average is $1,174.16. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97. The firm has a market cap of $842.97 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Equities research analysts anticipate that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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