Newman Dignan & Sheerar Inc. lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,316 shares of the information services provider’s stock after buying an additional 67 shares during the period. Alphabet accounts for approximately 2.0% of Newman Dignan & Sheerar Inc.’s holdings, making the stock its 10th biggest position. Newman Dignan & Sheerar Inc.’s holdings in Alphabet were worth $4,860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. BlackRock Inc. grew its stake in Alphabet by 2.2% during the 2nd quarter. BlackRock Inc. now owns 20,565,856 shares of the information services provider’s stock worth $29,163,413,000 after buying an additional 445,690 shares during the last quarter. State Street Corp grew its position in shares of Alphabet by 0.4% during the first quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock worth $13,582,044,000 after acquiring an additional 45,599 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Alphabet by 14.3% during the second quarter. Bank of New York Mellon Corp now owns 3,509,469 shares of the information services provider’s stock worth $4,976,599,000 after acquiring an additional 439,638 shares during the last quarter. Morgan Stanley increased its holdings in shares of Alphabet by 4.6% in the 1st quarter. Morgan Stanley now owns 2,573,124 shares of the information services provider’s stock worth $2,989,841,000 after acquiring an additional 114,032 shares during the period. Finally, Capital International Investors lifted its position in Alphabet by 8.7% in the 1st quarter. Capital International Investors now owns 1,765,272 shares of the information services provider’s stock valued at $2,051,158,000 after purchasing an additional 141,777 shares during the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.

Several research analysts have commented on GOOGL shares. Morgan Stanley upped their target price on shares of Alphabet from $1,760.00 to $1,800.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Wells Fargo & Company restated a “buy” rating and issued a $1,750.00 target price (up from $1,575.00) on shares of Alphabet in a research report on Monday, July 27th. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and lifted their target price for the company from $1,550.00 to $1,600.00 in a research note on Friday, July 31st. 140166 increased their price target on Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Finally, Guggenheim lifted their price objective on shares of Alphabet from $1,580.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Four analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,679.91.

NASDAQ:GOOGL opened at $1,567.70 on Friday. The business’s fifty day moving average price is $1,519.73 and its 200 day moving average price is $1,433.08. The firm has a market capitalization of $1,066.29 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.14 and a beta of 1.10. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Equities analysts forecast that Alphabet Inc will post 44.87 earnings per share 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: What is the Coverage Ratio?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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