Scharf Investments LLC Acquires New Position in Alphabet Inc (NASDAQ:GOOGL)

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Scharf Investments LLC acquired a new stake in Alphabet Inc (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 212 shares of the information services provider’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Litman Gregory Asset Management LLC acquired a new position in Alphabet during the second quarter worth about $37,000. Belvedere Advisors LLC acquired a new position in Alphabet during the first quarter worth about $38,000. Thor Advisors LLC acquired a new position in Alphabet during the first quarter worth about $45,000. Lipe & Dalton acquired a new position in Alphabet during the second quarter worth about $49,000. Finally, Johnson Financial Group Inc. raised its position in Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 33.81% of the company’s stock.

A number of equities analysts have issued reports on GOOGL shares. Nomura restated a “buy” rating and set a $1,400.00 target price (up previously from $1,300.00) on shares of Alphabet in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of Alphabet to $1,225.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on shares of Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Needham & Company LLC set a $1,350.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, SunTrust Banks restated a “buy” rating and set a $1,325.00 target price on shares of Alphabet in a research report on Monday, July 22nd. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,373.76.

Alphabet stock traded up $0.66 during trading on Friday, reaching $1,235.63. The company had a trading volume of 89,969 shares, compared to its average volume of 1,133,439. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The stock’s 50 day moving average price is $1,191.17 and its two-hundred day moving average price is $1,166.46. The firm has a market capitalization of $836.03 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. As a group, research analysts expect that Alphabet Inc will post 51.29 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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