Apollon Wealth Management LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 4.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173 shares of the information services provider’s stock after purchasing an additional 8 shares during the quarter. Apollon Wealth Management LLC’s holdings in Alphabet were worth $201,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Stephenson National Bank & Trust purchased a new stake in Alphabet in the fourth quarter worth about $27,000. Cox Capital Mgt LLC purchased a new stake in Alphabet in the first quarter worth about $27,000. TFO TDC LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $32,000. BigSur Wealth Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $33,000. Finally, Cedar Mountain Advisors LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 34.29% of the company’s stock.
Several research analysts have recently issued reports on the stock. Societe Generale dropped their target price on shares of Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. They noted that the move was a valuation call. Atlantic Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Alphabet in a research note on Wednesday, April 29th. Bank of America upped their target price on shares of Alphabet from $1,372.00 to $1,420.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Nomura Instinet upped their target price on shares of Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Loop Capital increased their price objective on shares of Alphabet from $1,320.00 to $1,400.00 in a research report on Thursday, April 9th. Four research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,505.34.
GOOGL opened at $1,413.24 on Friday. The stock has a market capitalization of $960.27 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.11 and a beta of 1.06. The company has a fifty day moving average of $1,281.39 and a 200 day moving average of $1,330.33. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The company had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same period in the previous year, the business posted $9.50 earnings per share. On average, equities research analysts forecast that Alphabet Inc will post 41.47 earnings per share for the current 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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