Guardian Capital Advisors LP decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 16.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 677 shares of the information services provider’s stock after selling 136 shares during the period. Guardian Capital Advisors LP’s holdings in Alphabet were worth $1,509,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. SWS Partners acquired a new stake in Alphabet in the 1st quarter valued at approximately $28,000. Rational Advisors LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $28,000. IAG Wealth Partners LLC grew its holdings in Alphabet by 120.0% in the 1st quarter. IAG Wealth Partners LLC now owns 11 shares of the information services provider’s stock valued at $31,000 after buying an additional 6 shares during the last quarter. Westchester Capital Management Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $36,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 1.49% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GOOG. The Goldman Sachs Group set a $135.00 price objective on Alphabet in a research report on Friday, November 18th. Barclays set a $150.00 target price on Alphabet in a research report on Thursday, September 8th. Guggenheim cut their target price on Alphabet to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft cut their target price on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Finally, Cowen cut their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.23.
Insiders Place Their Bets
Alphabet Trading Up 1.5 %
Shares of Alphabet stock traded up $1.49 during trading on Thursday, reaching $98.82. 17,568,859 shares of the company were exchanged, compared to its average volume of 34,425,172. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The business has a 50-day moving average price of $97.58 and a 200-day moving average price of $107.93. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.84 and a beta of 1.05.
Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same period last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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