Gradient Investments LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 1,051 shares of the information services provider’s stock after buying an additional 4 shares during the period. Gradient Investments LLC’s holdings in Alphabet were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue bought a new position in shares of Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet during the first quarter valued at about $108,000. Delta Asset Management LLC TN raised its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the period. Farmers National Bank raised its position in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 34.12% of the company’s stock.

Alphabet Inc. (GOOGL) traded up 1.14% during trading on Wednesday, hitting $948.75. 691,530 shares of the company were exchanged. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The stock’s 50-day moving average is $953.90 and its 200-day moving average is $911.06. The company has a market capitalization of $657.37 billion, a price-to-earnings ratio of 34.38 and a beta of 0.99.

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

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GOOGL has been the subject of several research reports. JMP Securities reiterated an “outperform” rating and issued a $1,095.00 target price (up from $1,020.00) on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reiterated an “outperform” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Monday, April 24th. Societe Generale set a $1,210.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reiterated a “buy” rating and issued a $1,170.00 target price (up from $1,000.00) on shares of Alphabet in a research report on Monday, May 8th. Finally, Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 target price for the company. in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,053.45.

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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