Maplelane Capital LLC Buys 21,000 Shares of Alphabet Inc (GOOGL)
Maplelane Capital LLC grew its stake in Alphabet Inc (NASDAQ:GOOGL) by 84.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 46,000 shares of the information services provider’s stock after buying an additional 21,000 shares during the quarter. Alphabet accounts for approximately 1.1% of Maplelane Capital LLC’s portfolio, making the stock its 18th biggest position. Maplelane Capital LLC’s holdings in Alphabet were worth $51,943,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. New England Research & Management Inc. raised its position in shares of Alphabet by 87.3% during the 2nd quarter. New England Research & Management Inc. now owns 751 shares of the information services provider’s stock worth $848,000 after acquiring an additional 350 shares in the last quarter. Pegasus Partners Ltd. increased its position in Alphabet by 18.5% during the second quarter. Pegasus Partners Ltd. now owns 468 shares of the information services provider’s stock worth $528,000 after buying an additional 73 shares during the period. Swarthmore Group Inc. increased its position in Alphabet by 6.3% during the second quarter. Swarthmore Group Inc. now owns 8,050 shares of the information services provider’s stock worth $9,090,000 after buying an additional 475 shares during the period. Windward Capital Management Co. CA increased its position in Alphabet by 0.4% during the second quarter. Windward Capital Management Co. CA now owns 19,540 shares of the information services provider’s stock worth $22,065,000 after buying an additional 71 shares during the period. Finally, Hilltop Holdings Inc. increased its position in Alphabet by 117.5% during the first quarter. Hilltop Holdings Inc. now owns 1,855 shares of the information services provider’s stock worth $1,924,000 after buying an additional 1,002 shares during the period. Institutional investors and hedge funds own 30.54% of the company’s stock.
A number of research firms have recently issued reports on GOOGL. Monness Crespi & Hardt dropped their target price on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Macquarie reissued a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a report on Wednesday, August 15th. MKM Partners boosted their target price on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,330.16.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. The business had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. As a group, research analysts expect that Alphabet Inc will post 45.02 EPS for the current year.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
Further Reading: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.