Lowe Brockenbrough & Co. Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,719 shares of the information services provider’s stock after selling 135 shares during the period. Alphabet accounts for approximately 2.0% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 7th biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Alphabet were worth $15,710,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Newfound Research LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Virtus Alternative Investment Advisers Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $45,000. Cedar Mountain Advisors LLC boosted its position in shares of Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after purchasing an additional 7 shares during the period. Carolina Wealth Advisors LLC boosted its position in shares of Alphabet by 71.4% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 36 shares of the information services provider’s stock worth $53,000 after purchasing an additional 15 shares during the period. Finally, Cerebellum GP LLC purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $54,000. 33.78% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet stock opened at $1,556.88 on Friday. Alphabet Inc. has a 1 year low of $1,008.87 and a 1 year high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The company has a market capitalization of $1,058.93 billion, a P/E ratio of 34.24, a PEG ratio of 2.09 and a beta of 1.10. The company’s fifty day moving average is $1,510.59 and its two-hundred day moving average is $1,461.90.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 29th. The information services provider reported $16.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.35 by $5.05. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, equities analysts expect that Alphabet Inc. will post 44.93 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Cleveland Research raised shares of Alphabet from a “neutral” rating to a “buy” rating in a research report on Friday, October 23rd. Barclays increased their target price on shares of Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Canaccord Genuity increased their target price on shares of Alphabet from $1,700.00 to $1,800.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and increased their target price for the stock from $1,550.00 to $1,600.00 in a report on Friday, July 31st. Three analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,685.59.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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