Cape ANN Savings Bank Has $921,000 Stake in Alphabet Inc. (GOOGL)
Cape ANN Savings Bank increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 991 shares of the information services provider’s stock after buying an additional 5 shares during the period. Alphabet makes up 1.2% of Cape ANN Savings Bank’s investment portfolio, making the stock its 29th largest position. Cape ANN Savings Bank’s holdings in Alphabet were worth $921,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GOOGL. HCR Wealth Advisors acquired a new position in shares of Alphabet during the fourth quarter valued at about $3,599,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Alphabet by 7.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,198 shares of the information services provider’s stock worth $19,201,000 after buying an additional 1,738 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in Alphabet during the fourth quarter worth $43,891,000. Princeton Portfolio Strategies Group LLC increased its stake in Alphabet by 1.5% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 4,435 shares of the information services provider’s stock worth $3,515,000 after buying an additional 64 shares during the last quarter. Finally, Capital International Inc. CA increased its stake in Alphabet by 58.8% in the fourth quarter. Capital International Inc. CA now owns 6,345 shares of the information services provider’s stock worth $5,028,000 after buying an additional 2,350 shares during the last quarter. Institutional investors and hedge funds own 34.12% of the company’s stock.
Shares of Alphabet Inc. (GOOGL) traded up 1.14% during trading on Wednesday, hitting $948.75. The stock had a trading volume of 691,530 shares. The firm has a market capitalization of $657.37 billion, a P/E ratio of 34.38 and a beta of 0.99. The stock’s 50-day moving average price is $953.90 and its 200 day moving average price is $911.06. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the prior year, the business posted $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the company. Wedbush restated an “underperform” rating and set a $725.00 target price (up previously from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. J P Morgan Chase & Co boosted their target price on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research report on Saturday, July 22nd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 target price for the company in a research report on Tuesday, July 25th. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and boosted their target price for the stock from $967.93 to $1,000.00 in a research report on Thursday, June 15th. Finally, FBR & Co restated an “outperform” rating and set a $1,050.00 target price (up previously from $1,032.00) on shares of Alphabet in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,053.45.
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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