Harvey Capital Management Inc. Maintains Position in Alphabet Inc. (NASDAQ:GOOGL)
Harvey Capital Management Inc. maintained its stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,280 shares of the information services provider’s stock at the end of the second quarter. Alphabet makes up 2.1% of Harvey Capital Management Inc.’s portfolio, making the stock its 21st largest position. Harvey Capital Management Inc.’s holdings in Alphabet were worth $4,908,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in GOOGL. Freestone Capital Holdings LLC boosted its stake in Alphabet by 8.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 1,380 shares of the information services provider’s stock valued at $1,094,000 after buying an additional 107 shares during the period. Loomis Sayles & Co. L P boosted its stake in Alphabet by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 955,024 shares of the information services provider’s stock valued at $756,809,000 after buying an additional 35,192 shares during the period. Alyeska Investment Group L.P. boosted its stake in Alphabet by 2,468.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 175,068 shares of the information services provider’s stock valued at $138,733,000 after buying an additional 168,253 shares during the period. GLG Partners LP boosted its stake in Alphabet by 144.4% in the fourth quarter. GLG Partners LP now owns 23,504 shares of the information services provider’s stock valued at $18,625,000 after buying an additional 13,886 shares during the period. Finally, Glenview Capital Management LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $605,119,000. 34.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded up 0.70% during mid-day trading on Friday, reaching $930.09. 1,616,708 shares of the company’s stock traded hands. The firm has a 50-day moving average of $956.22 and a 200 day moving average of $908.99. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The company has a market cap of $644.44 billion, a P/E ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the previous year, the company posted $8.42 earnings per share. Equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.
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Several analysts have recently commented on GOOGL shares. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, April 17th. Jefferies Group LLC reissued a “buy” rating and set a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, April 18th. Pacific Crest reissued an “overweight” rating and set a $1,040.00 price target on shares of Alphabet in a research note on Sunday, April 23rd. Cowen and Company reissued an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Monday, April 24th. Finally, Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target on the stock. in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,049.20.
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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