Beacon Financial Advisory LLC lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 17.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267 shares of the information services provider’s stock after buying an additional 40 shares during the period. Beacon Financial Advisory LLC’s holdings in Alphabet were worth $378,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GOOGL. Amundi Pioneer Asset Management Inc. increased its stake in Alphabet by 29.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock worth $1,297,422,000 after acquiring an additional 219,626 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Alphabet in the 4th quarter worth $76,173,000. Blue Whale Capital LLP acquired a new position in Alphabet during the 4th quarter valued at about $9,670,000. Redhawk Wealth Advisors Inc. increased its position in Alphabet by 34.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 386 shares of the information services provider’s stock valued at $517,000 after buying an additional 99 shares in the last quarter. Finally, Wintrust Investments LLC increased its position in Alphabet by 13.3% during the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock valued at $1,136,000 after buying an additional 115 shares in the last quarter. 34.22% of the stock is currently owned by institutional investors and hedge funds.
GOOGL has been the topic of a number of research reports. Oppenheimer reissued a “buy” rating and issued a $1,445.00 price objective on shares of Alphabet in a report on Wednesday, April 29th. Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 price target on the stock in a research report on Monday, April 20th. BMO Capital Markets reiterated an “outperform” rating and set a $1,550.00 price target (up previously from $1,400.00) on shares of Alphabet in a research report on Wednesday, April 29th. Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price target on the stock in a research report on Friday, March 13th. Finally, Robert W. Baird increased their price target on Alphabet from $1,500.00 to $1,650.00 in a research report on Thursday, June 25th. Three research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,536.87.
Shares of GOOGL traded up $5.35 during midday trading on Tuesday, reaching $1,505.00. 131,872 shares of the stock were exchanged, compared to its average volume of 1,919,216. The business’s 50-day moving average price is $1,425.18 and its 200 day moving average price is $1,356.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,530.74. The company has a market capitalization of $1,023.69 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. During the same quarter last year, the firm posted $9.50 EPS. As a group, equities research analysts expect that Alphabet Inc will post 41.23 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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