Wagner Bowman Management Corp grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 754 shares of the information services provider’s stock after purchasing an additional 94 shares during the period. Wagner Bowman Management Corp’s holdings in Alphabet were worth $700,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GOOGL. Investec Asset Management LTD lifted its stake in shares of Alphabet by 62.7% in the 1st quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock valued at $526,576,000 after acquiring an additional 239,390 shares during the last quarter. Karp Capital Management Corp increased its holdings in Alphabet by 5,218.2% during the 1st quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock valued at $169,350,000 after purchasing an additional 195,996 shares during the period. State Street Corp increased its holdings in Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after purchasing an additional 142,214 shares during the period. Boston Partners increased its holdings in Alphabet by 9.9% during the 1st quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock valued at $823,046,000 after purchasing an additional 87,783 shares during the period. Finally, Scopus Asset Management L.P. purchased a new position in Alphabet during the 1st quarter valued at about $72,063,000. 33.85% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on GOOGL shares. Societe Generale set a $1,210.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a report on Saturday, July 22nd. Pivotal Research reiterated a “hold” rating and set a $940.00 target price (down previously from $980.00) on shares of Alphabet in a report on Tuesday, July 25th. Deutsche Bank AG reiterated a “buy” rating and set a $1,258.00 target price (up previously from $1,250.00) on shares of Alphabet in a report on Saturday, July 22nd. Finally, Instinet restated a “buy” rating on shares of Alphabet in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,054.01.
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Alphabet Inc. (NASDAQ GOOGL) opened at 943.26 on Friday. The company’s 50-day moving average is $939.49 and its 200-day moving average is $928.76. The firm has a market capitalization of $653.57 billion, a P/E ratio of 34.18 and a beta of 0.98. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61. Alphabet also saw unusually large options trading activity on Wednesday. Stock investors purchased 20,437 call options on the stock. This is an increase of 108% compared to the average volume of 9,814 call options.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the previous year, the business posted $8.42 earnings per share. On average, analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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