Hollencrest Capital Management Has $4.51 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hollencrest Capital Management boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,686 shares of the information services provider’s stock after buying an additional 320 shares during the quarter. Hollencrest Capital Management’s holdings in Alphabet were worth $4,507,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Laurel Wealth Planning LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $27,000. True Link Financial Advisors LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $29,000. Financial Insights Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $39,000. Harvest Group Wealth Management LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $66,000. Finally, Cowen Prime Advisors LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $98,000. 34.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ GOOGL opened at $2,922.40 on Thursday. Alphabet Inc. has a fifty-two week low of $1,694.00 and a fifty-two week high of $3,019.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.07 and a beta of 1.04. The business has a 50-day moving average of $2,850.18 and a 200-day moving average of $2,668.40.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a return on equity of 30.22% and a net margin of 29.52%. During the same quarter in the previous year, the company earned $16.40 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 107.86 EPS for the current year.

Several analysts recently commented on the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $3,400.00 price objective (up previously from $3,100.00) on shares of Alphabet in a research note on Wednesday, October 27th. Truist raised their price objective on Alphabet from $3,100.00 to $3,400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Stifel Nicolaus raised their price objective on Alphabet from $3,000.00 to $3,200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Oppenheimer raised their price objective on Alphabet from $3,000.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Finally, Wedbush raised their price objective on Alphabet from $3,424.00 to $3,530.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Four investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $3,156.15.

About Alphabet

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.

See Also: What are economic reports?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

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.