Lakewood Capital Management LP increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,823 shares of the information services provider’s stock after buying an additional 34,500 shares during the period. Alphabet makes up approximately 5.8% of Lakewood Capital Management LP’s investment portfolio, making the stock its 8th largest position. Lakewood Capital Management LP’s holdings in Alphabet were worth $138,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Three Bays Capital LP acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $22,030,000. SRS Capital Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $324,000. Kamunting Street Capital Management L.P. raised its position in Alphabet by 51.9% in the fourth quarter. Kamunting Street Capital Management L.P. now owns 9,000 shares of the information services provider’s stock worth $7,132,000 after buying an additional 3,075 shares during the last quarter. Route One Investment Company L.P. raised its position in Alphabet by 22.0% in the fourth quarter. Route One Investment Company L.P. now owns 209,375 shares of the information services provider’s stock worth $165,919,000 after buying an additional 37,800 shares during the last quarter. Finally, Tourbillon Capital Partners L.P. purchased a new position in Alphabet during the fourth quarter worth about $174,339,000. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Shares of Alphabet Inc. (GOOGL) traded down 1.037% on Thursday, reaching $930.335. 572,792 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $959.12 and its 200-day moving average price is $908.27. The stock has a market cap of $644.61 billion, a P/E ratio of 33.716 and a beta of 0.99. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period last year, the business earned $8.42 EPS. Equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

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A number of research analysts recently issued reports on the stock. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price on the stock in a research note on Monday, June 5th. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. raised their target price on shares of Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reiterated a “buy” rating and issued a $1,080.00 target price (up from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $1,060.00 target price (down from $1,065.00) on shares of Alphabet in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,047.81.

About Alphabet

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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