Investment House LLC Has $20.13 Million Position in Alphabet Inc. (GOOGL)
Investment House LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,652 shares of the information services provider’s stock after selling 453 shares during the period. Alphabet comprises 2.7% of Investment House LLC’s portfolio, making the stock its 5th largest position. Investment House LLC’s holdings in Alphabet were worth $20,129,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Alphabet during the second quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet during the first quarter worth $108,000. Delta Asset Management LLC TN raised its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Farmers National Bank raised its stake in Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its stake in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. 33.87% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded up 0.44% during mid-day trading on Wednesday, reaching $939.90. 406,052 shares of the company’s stock were exchanged. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The company’s 50-day moving average is $952.77 and its 200 day moving average is $916.26. The firm has a market capitalization of $651.24 billion, a P/E ratio of 34.06 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the firm earned $8.42 EPS. Equities analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $1,032.00 target price on shares of Alphabet in a report on Wednesday, May 3rd. UBS AG reaffirmed a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a report on Monday, May 15th. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a report on Thursday, August 10th. Finally, Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 target price on the stock in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average 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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