Iowa State Bank acquired a new stake in shares of Alphabet Inc Class A (NASDAQ:GOOGL) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,602 shares of the information services provider’s stock, valued at approximately $1,809,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. BlackRock Inc. grew its position in shares of Alphabet Inc Class A by 1.5% during the 1st quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after acquiring an additional 269,848 shares during the period. Summit Trail Advisors LLC grew its position in shares of Alphabet Inc Class A by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after acquiring an additional 17,925,496 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet Inc Class A by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,285,692 shares of the information services provider’s stock valued at $3,454,154,000 after acquiring an additional 87,329 shares during the period. American Century Companies Inc. grew its position in shares of Alphabet Inc Class A by 1.0% during the 1st quarter. American Century Companies Inc. now owns 2,266,027 shares of the information services provider’s stock valued at $2,350,187,000 after acquiring an additional 23,524 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in shares of Alphabet Inc Class A by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after acquiring an additional 1,387,599 shares during the period. Institutional investors and hedge funds own 33.56% of the company’s stock.

GOOGL has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $1,250.00 price objective (up from $1,200.00) on shares of Alphabet Inc Class A in a report on Thursday, June 28th. Credit Suisse Group reiterated an “outperform” rating and issued a $1,330.00 price objective (down from $1,350.00) on shares of Alphabet Inc Class A in a report on Monday, July 16th. Macquarie reiterated a “buy” rating and issued a $1,250.00 price objective on shares of Alphabet Inc Class A in a report on Monday, August 27th. Citigroup reiterated a “buy” rating and issued a $1,400.00 price objective (up from $1,350.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $1,456.00 price objective (up from $1,234.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,317.07.

GOOGL opened at $1,193.89 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. Alphabet Inc Class A has a 1-year low of $935.12 and a 1-year high of $1,291.44. The company has a market capitalization of $815.73 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10.

Alphabet Inc Class A (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.51 by $2.24. The firm had revenue of $26.24 billion for the quarter, compared to analyst estimates of $25.64 billion. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. During the same quarter in the previous year, the company earned $5.01 EPS. sell-side analysts forecast that Alphabet Inc Class A will post 42.46 EPS for the current fiscal year.

About Alphabet Inc Class A

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.

Featured Article: Trading Strategy

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc Class A (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Inc Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc Class A and related companies with MarketBeat.com's FREE daily email newsletter.