PDS Planning Inc Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)


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PDS Planning Inc boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 456 shares of the information services provider’s stock after buying an additional 33 shares during the quarter. PDS Planning Inc’s holdings in Alphabet were worth $941,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Beacon Financial Advisory LLC lifted its stake in Alphabet by 14.0% in the 1st quarter. Beacon Financial Advisory LLC now owns 351 shares of the information services provider’s stock valued at $724,000 after buying an additional 43 shares in the last quarter. SevenBridge Financial Group LLC lifted its stake in Alphabet by 1.1% in the 1st quarter. SevenBridge Financial Group LLC now owns 4,650 shares of the information services provider’s stock valued at $9,591,000 after buying an additional 49 shares in the last quarter. Arlington Partners LLC lifted its stake in Alphabet by 4.4% in the 1st quarter. Arlington Partners LLC now owns 1,339 shares of the information services provider’s stock valued at $2,762,000 after buying an additional 56 shares in the last quarter. Bowling Portfolio Management LLC lifted its stake in Alphabet by 2.9% in the 1st quarter. Bowling Portfolio Management LLC now owns 6,573 shares of the information services provider’s stock valued at $13,557,000 after buying an additional 184 shares in the last quarter. Finally, IFG Advisory LLC lifted its stake in shares of Alphabet by 27.2% during the 1st quarter. IFG Advisory LLC now owns 580 shares of the information services provider’s stock worth $1,196,000 after purchasing an additional 124 shares during the period. 33.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOGL stock opened at $2,278.35 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. Alphabet Inc. has a one year low of $1,230.38 and a one year high of $2,304.09. The company’s 50-day simple moving average is $2,122.33 and its 200-day simple moving average is $1,869.92. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 44.03, a PEG ratio of 1.65 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, topping the consensus estimate of $15.90 by $6.40. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.09 billion. During the same quarter last year, the company posted $15.35 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 52.19 EPS for the current year.

A number of research analysts have weighed in on the company. Loop Capital raised Alphabet from a “hold” rating to a “buy” rating and set a $2,525.00 price target on the stock in a research note on Tuesday, February 16th. Pivotal Research reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Jefferies Financial Group increased their price target on Alphabet from $2,400.00 to $2,700.00 and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group increased their price target on Alphabet from $2,000.00 to $2,360.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Evercore ISI increased their price target on Alphabet from $1,875.00 to $2,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 3rd. One equities research analyst has rated the stock with a hold rating and forty-one have assigned a buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $2,184.24.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

Read More: Why do analysts give a neutral rating?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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