NorthCoast Asset Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

NorthCoast Asset Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,270 shares of the information services provider’s stock after purchasing an additional 16 shares during the period. Alphabet accounts for 1.2% of NorthCoast Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. NorthCoast Asset Management LLC’s holdings in Alphabet were worth $29,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Resolute Partners Group purchased a new position in shares of Alphabet in the 4th quarter worth $28,000. TFO TDC LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $43,000. Sage Private Wealth Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $51,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in Alphabet in the first quarter valued at approximately $52,000. Finally, Sage Financial Management Group Inc. acquired a new position in Alphabet during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 34.52% of the company’s stock.

NASDAQ GOOGL traded up $9.59 on Thursday, reaching $2,560.57. The company’s stock had a trading volume of 20,222 shares, compared to its average volume of 1,119,521. Alphabet Inc. has a twelve month low of $1,402.15 and a twelve month high of $2,586.53. The company has a current ratio of 3.10, a quick ratio of 3.09 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.72 trillion, a PE ratio of 34.08, a PEG ratio of 1.54 and a beta of 1.01. The business has a 50 day moving average price of $2,423.87.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.82 by $10.47. The firm had revenue of $45.60 billion for the quarter, compared to analyst estimates of $42.46 billion. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. During the same quarter in the previous year, the business posted $9.87 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 90.17 EPS for the current fiscal year.

Several brokerages have recently weighed in on GOOGL. Needham & Company LLC upped their target price on Alphabet from $2,500.00 to $2,700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. BMO Capital Markets lifted their price objective on shares of Alphabet from $2,350.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Friday, April 23rd. Citigroup downgraded shares of Alphabet from a “buy” rating to a “neutral” rating in a research note on Monday, May 10th. Monness Crespi & Hardt lifted their price target on shares of Alphabet from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Finally, Susquehanna upped their price objective on shares of Alphabet from $3,000.00 to $3,100.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $2,520.50.

Alphabet 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.

Recommended Story: Mutual Funds

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.