Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the first quarter, Holdings Channel.com reports. The fund owned 911,099 shares of the information services provider’s stock after buying an additional 7,934 shares during the quarter. Alphabet comprises 1.6% of The Manufacturers Life Insurance Company’s holdings, making the stock its 4th largest holding. The Manufacturers Life Insurance Company’s holdings in Alphabet were worth $1,879,160,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Corundum Group Inc. increased its position in Alphabet by 3.0% in the 4th quarter. Corundum Group Inc. now owns 174 shares of the information services provider’s stock valued at $305,000 after acquiring an additional 5 shares during the period. JGP Wealth Management LLC grew its holdings in Alphabet by 2.0% in the fourth quarter. JGP Wealth Management LLC now owns 260 shares of the information services provider’s stock worth $534,000 after purchasing an additional 5 shares during the period. Confluence Investment Management LLC grew its holdings in Alphabet by 2.4% in the first quarter. Confluence Investment Management LLC now owns 212 shares of the information services provider’s stock worth $437,000 after purchasing an additional 5 shares during the period. Cardan Capital Partners LLC grew its holdings in Alphabet by 0.8% in the first quarter. Cardan Capital Partners LLC now owns 601 shares of the information services provider’s stock worth $1,239,000 after purchasing an additional 5 shares during the period. Finally, Legacy Capital Partners Inc. grew its holdings in Alphabet by 1.2% in the first quarter. Legacy Capital Partners Inc. now owns 410 shares of the information services provider’s stock worth $846,000 after purchasing an additional 5 shares during the period. 33.79% of the stock is currently owned by institutional investors.

NASDAQ:GOOGL opened at $2,270.06 on Wednesday. The company has a fifty day moving average of $2,231.03 and a 200 day moving average of $1,948.77. Alphabet Inc. has a 52 week low of $1,323.30 and a 52 week high of $2,431.38. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 43.87, a P/E/G ratio of 1.65 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, beating the Zacks’ consensus estimate of $15.82 by $10.47. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. During the same quarter last year, the company posted $9.87 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current year.

A number of research firms have weighed in on GOOGL. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $2,575.00 to $2,875.00 in a research note on Wednesday, April 28th. The Goldman Sachs Group raised their price objective on shares of Alphabet from $2,250.00 to $2,550.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. China Renaissance Securities raised shares of Alphabet from a “hold” rating to a “buy” rating and raised their price objective for the company from $1,477.00 to $3,000.00 in a research note on Monday. Wedbush raised their price objective on shares of Alphabet from $2,953.00 to $3,127.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Finally, Morgan Stanley raised their price objective on shares of Alphabet from $2,350.00 to $2,575.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $2,483.21.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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