Palisade Asset Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 140 shares of the information services provider’s stock, valued at approximately $205,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Newfound Research LLC bought a new stake in Alphabet in the 3rd quarter valued at $32,000. Virtus Alternative Investment Advisers Inc. bought a new stake in Alphabet in the 2nd quarter valued at $45,000. Cedar Mountain Advisors LLC lifted its position in Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 7 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in Alphabet by 71.4% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 36 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Alphabet in the 3rd quarter valued at $54,000. 33.78% of the stock is currently owned by institutional investors.
NASDAQ GOOGL opened at $1,556.88 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1,058.93 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.09 and a beta of 1.10. Alphabet Inc. has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The firm has a 50-day moving average price of $1,510.59 and a two-hundred day moving average price of $1,461.90.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, October 29th. The information services provider reported $16.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.35 by $5.05. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. Equities analysts expect that Alphabet Inc. will post 44.93 EPS for the current year.
Several equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,800.00 price objective on shares of Alphabet in a research report on Friday, July 31st. Cleveland Research upgraded shares of Alphabet from a “neutral” rating to a “buy” rating in a research note on Friday, October 23rd. SunTrust Banks lifted their price target on shares of Alphabet from $1,805.00 to $1,850.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $2,020.00 price target (up from $1,975.00) on shares of Alphabet in a research note on Monday, October 12th. Finally, Credit Suisse Group lifted their price target on shares of Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Three analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target 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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