Distillate Capital Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,257 shares of the information services provider’s stock after acquiring an additional 73 shares during the quarter. Alphabet makes up approximately 2.2% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Distillate Capital Partners LLC’s holdings in Alphabet were worth $7,953,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Cohen Investment Advisors LLC boosted its holdings in Alphabet by 22,787.8% in the 1st quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock valued at $2,861,000 after purchasing an additional 350,477 shares during the period. Whale Rock Capital Management LLC bought a new stake in Alphabet in the 1st quarter valued at $595,998,000. Clarus Group Inc. boosted its holdings in Alphabet by 203,152.0% in the 1st quarter. Clarus Group Inc. now owns 250,000 shares of the information services provider’s stock valued at $1,304,000 after purchasing an additional 249,877 shares during the period. Jennison Associates LLC boosted its holdings in Alphabet by 16.0% in the 1st quarter. Jennison Associates LLC now owns 1,436,684 shares of the information services provider’s stock valued at $2,963,189,000 after purchasing an additional 197,838 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Alphabet by 101.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock valued at $784,586,000 after purchasing an additional 191,361 shares during the period. Institutional investors and hedge funds own 32.00% of the company’s stock.
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GOOGL has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Canaccord Genuity raised their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Susquehanna Bancshares raised their price objective on shares of Alphabet from $3,100.00 to $3,600.00 and gave the stock a “positive” rating in a report on Wednesday, July 28th. Credit Suisse Group lifted their price target on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Finally, Argus lifted their price target on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating and forty have given a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $2,821.21.
Alphabet stock traded down $32.96 during midday trading on Tuesday, hitting $2,733.23. 1,019,695 shares of the stock were exchanged, compared to its average volume of 1,566,211. The firm has a fifty day moving average price of $2,557.64. Alphabet Inc. has a 52 week low of $1,402.15 and a 52 week high of $2,767.25. The stock has a market capitalization of $1.82 trillion, a PE ratio of 29.63, a PEG ratio of 1.79 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping the consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The business had revenue of $50.95 billion for the quarter, compared to analyst estimates of $46.07 billion. During the same quarter last year, the firm earned $10.13 EPS. On average, research analysts forecast that Alphabet Inc. will post 101.86 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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