Alphabet Inc (NASDAQ:GOOGL) Holdings Raised by Canton Hathaway LLC

Canton Hathaway LLC boosted its stake in Alphabet Inc (NASDAQ:GOOGL) by 17.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 435 shares of the information services provider’s stock after buying an additional 65 shares during the quarter. Canton Hathaway LLC’s holdings in Alphabet were worth $531,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC raised its holdings in shares of Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Alphabet by 2,010.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock valued at $2,397,786,000 after purchasing an additional 2,109,515 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after purchasing an additional 1,285,824 shares in the last quarter. Packer & Co Ltd raised its holdings in shares of Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares in the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Alphabet by 52.9% during the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock valued at $1,114,175,000 after purchasing an additional 355,900 shares in the last quarter. Institutional investors own 33.50% of the company’s stock.

NASDAQ GOOGL opened at $1,215.71 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The firm has a market capitalization of $842.97 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.40 and a beta of 0.99. The company’s fifty day moving average is $1,206.68 and its two-hundred day 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.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, sell-side analysts expect that Alphabet Inc will post 51.29 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. SunTrust Banks restated a “buy” rating and set a $1,325.00 price target on shares of Alphabet in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of Alphabet to $1,225.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Finally, Oppenheimer set a $1,370.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,375.78.

About Alphabet

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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