Strategic Investment Advisors MI Has $661,000 Holdings in Alphabet Inc (NASDAQ:GOOGL)
Strategic Investment Advisors MI boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 14.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439 shares of the information services provider’s stock after purchasing an additional 57 shares during the period. Strategic Investment Advisors MI’s holdings in Alphabet were worth $661,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Lido Advisors LLC grew its stake in shares of Alphabet by 4.1% during the second quarter. Lido Advisors LLC now owns 10,045 shares of the information services provider’s stock valued at $14,245,000 after purchasing an additional 395 shares during the last quarter. Old North State Trust LLC raised its position in Alphabet by 36.1% in the 1st quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock worth $153,000 after purchasing an additional 35 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Alphabet by 78.3% during the 2nd quarter. AE Wealth Management LLC now owns 12,543 shares of the information services provider’s stock worth $17,786,000 after buying an additional 5,507 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Alphabet by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 124,261 shares of the information services provider’s stock worth $176,209,000 after buying an additional 7,092 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its position in Alphabet by 2.7% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 308 shares of the information services provider’s stock valued at $437,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.
GOOGL has been the topic of several research reports. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and upped their price target for the company from $1,550.00 to $1,600.00 in a research note on Friday, July 31st. Royal Bank of Canada upped their target price on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Wells Fargo & Company reaffirmed a “buy” rating and issued a $1,750.00 target price (up previously from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. Canaccord Genuity boosted their price target on shares of Alphabet from $1,700.00 to $1,800.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, KeyCorp initiated coverage on shares of Alphabet in a report on Monday, September 14th. They issued an “overweight” rating and a $1,955.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,679.91.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Equities research analysts expect that Alphabet Inc will post 44.87 EPS for the current year.
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.
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