LFA Lugano Financial Advisors SA raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 726 shares of the information services provider’s stock after purchasing an additional 29 shares during the quarter. LFA Lugano Financial Advisors SA’s holdings in Alphabet were worth $786,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Thoroughbred Financial Services LLC lifted its position in shares of Alphabet by 205,910.9% in the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after buying an additional 3,391,353 shares during the last quarter. Packer & Co Ltd lifted its holdings in Alphabet by 4,018.6% during the 2nd 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. Royal London Asset Management Ltd. acquired a new stake in Alphabet during the 4th quarter worth approximately $237,900,000. AMF Pensionsforsakring AB lifted its holdings in Alphabet by 172.7% during the 4th quarter. AMF Pensionsforsakring AB now owns 209,505 shares of the information services provider’s stock worth $218,924,000 after purchasing an additional 132,686 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in Alphabet by 41.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 243,947 shares of the information services provider’s stock worth $264,144,000 after purchasing an additional 71,681 shares during the last quarter. Hedge funds and other institutional investors own 34.09% of the company’s stock.
Several analysts recently weighed in on the company. Macquarie set a $1,300.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their price target on Alphabet to $1,425.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Credit Suisse Group lifted their price target on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group lifted their price target on Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Finally, Oppenheimer set a $1,370.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,371.05.
GOOGL traded down $6.93 during midday trading on Tuesday, hitting $1,193.51. 117,455 shares of the company were exchanged, compared to its average volume of 1,845,357. The firm has a market capitalization of $825.56 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.30 and a beta of 0.97. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The firm’s 50 day moving average price is $1,166.17 and its 200-day moving average price is $1,158.61. 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, sell-side analysts predict that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.
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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