Todd Asset Management LLC Buys 1,097 Shares of Alphabet Inc (NASDAQ:GOOGL)

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Todd Asset Management LLC increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,419 shares of the information services provider’s stock after acquiring an additional 1,097 shares during the period. Alphabet comprises 1.0% of Todd Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Todd Asset Management LLC’s holdings in Alphabet were worth $36,186,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOGL. Hochman Cole Investment Advisors Inc. raised its position in shares of Alphabet by 8.5% during the 2nd quarter. Hochman Cole Investment Advisors Inc. now owns 551 shares of the information services provider’s stock valued at $597,000 after acquiring an additional 43 shares during the last quarter. Stone Ridge Asset Management LLC raised its position in shares of Alphabet by 88.6% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 19,540 shares of the information services provider’s stock valued at $21,158,000 after acquiring an additional 9,180 shares during the last quarter. Meristem Family Wealth LLC raised its position in shares of Alphabet by 21.5% during the 2nd quarter. Meristem Family Wealth LLC now owns 1,131 shares of the information services provider’s stock valued at $1,225,000 after acquiring an additional 200 shares during the last quarter. Good Life Advisors LLC raised its position in shares of Alphabet by 6.3% during the 2nd quarter. Good Life Advisors LLC now owns 457 shares of the information services provider’s stock valued at $490,000 after acquiring an additional 27 shares during the last quarter. Finally, Western Wealth Management LLC raised its position in shares of Alphabet by 1.4% during the 2nd quarter. Western Wealth Management LLC now owns 2,226 shares of the information services provider’s stock valued at $2,388,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 34.09% of the company’s stock.

Several analysts have commented on GOOGL shares. Cowen set a $1,500.00 target price on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Argus reiterated a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research report on Wednesday, May 1st. Wedbush upped their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Susquehanna Bancshares upped their target price on shares of Alphabet to $1,550.00 in a research report on Friday, July 26th. Finally, Citigroup reiterated a “buy” rating and set a $1,450.00 target price (up previously from $1,325.00) on shares of Alphabet in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,371.05.

Shares of GOOGL traded down $37.94 during trading hours on Friday, reaching $1,153.58. The stock had a trading volume of 1,446,222 shares, compared to its average volume of 1,706,973. The company has a market cap of $826.20 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.31 and a beta of 0.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,296.97. The firm has a 50-day moving average of $1,171.86 and a 200 day moving average of $1,159.87.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, equities analysts expect that Alphabet Inc will post 51.94 earnings per share for the current year.

Alphabet 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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