J.P. Marvel Investment Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the first quarter, Holdings Channel reports. The institutional investor owned 10,195 shares of the information services provider’s stock after buying an additional 402 shares during the period. Alphabet comprises approximately 2.9% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 8th largest position. J.P. Marvel Investment Advisors LLC’s holdings in Alphabet were worth $8,643,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. ARS Investment Partners LLC increased its position in shares of Alphabet by 1.5% in the fourth quarter. ARS Investment Partners LLC now owns 21,659 shares of the information services provider’s stock worth $17,164,000 after buying an additional 314 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $372,000. CAMG Solamere Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $830,000. Shepherd Financial Partners LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $240,000. Finally, United Capital Financial Advisers LLC increased its position in shares of Alphabet by 3.2% in the fourth quarter. United Capital Financial Advisers LLC now owns 52,743 shares of the information services provider’s stock worth $41,797,000 after buying an additional 1,620 shares during the last quarter. 34.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (NASDAQ GOOGL) traded up 0.86% during midday trading on Wednesday, hitting $946.18. The company had a trading volume of 424,030 shares. The company has a market capitalization of $655.59 billion, a PE ratio of 34.29 and a beta of 0.99. The company has a 50-day moving average of $953.90 and a 200-day moving average of $911.06. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the company posted $8.42 earnings per share. Analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.

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A number of brokerages have recently issued reports on GOOGL. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price target on the stock in a report on Monday, June 5th. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. upped their price target on Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reaffirmed a “buy” rating and set a $1,080.00 price target (up from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $1,060.00 price target (down from $1,065.00) on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,053.45.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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