Wagner Wealth Management LLC grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 22.3% in the third quarter, Holdings Channel reports. The fund owned 796 shares of the information services provider’s stock after purchasing an additional 145 shares during the period. Wagner Wealth Management LLC’s holdings in Alphabet were worth $961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in Alphabet by 0.7% in the second quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after buying an additional 128,040 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Alphabet by 0.8% during the second quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock worth $4,152,625,000 after buying an additional 28,375 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock worth $3,669,682,000 after buying an additional 24,188 shares during the period. Jennison Associates LLC raised its holdings in Alphabet by 10.1% during the second quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock worth $1,965,840,000 after purchasing an additional 159,959 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Alphabet by 3.3% during the third quarter. Fisher Asset Management LLC now owns 1,271,089 shares of the information services provider’s stock worth $1,534,307,000 after purchasing an additional 40,770 shares in the last quarter. Hedge funds and other institutional investors own 41.25% of the company’s stock.

Shares of NASDAQ GOOGL traded up $2.33 during midday trading on Monday, reaching $1,104.71. The company’s stock had a trading volume of 6,249 shares, compared to its average volume of 1,780,230. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,291.44. The company has a market capitalization of $767.12 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.33 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The company had revenue of $31.84 billion for the quarter, compared to the consensus estimate of $31.28 billion. During the same period last year, the company earned $9.70 earnings per share. As a group, sell-side analysts expect that Alphabet Inc will post 47.38 EPS for the current year.

A number of brokerages have weighed in on GOOGL. Wells Fargo & Co set a $1,300.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Tuesday, February 5th. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research note on Tuesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $1,350.00 price target on shares of Alphabet in a research note on Tuesday, February 5th. Nomura dropped their target price on shares of Alphabet from $1,350.00 to $1,310.00 and set a “buy” rating for the company in a research report on Tuesday, February 5th. Finally, Citigroup decreased their price target on shares of Alphabet from $1,350.00 to $1,325.00 and set a “buy” rating for the company in a report on Tuesday, February 5th. Three analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,320.71.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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