WealthTrust Arizona LLC continued to hold its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116 shares of the information services provider’s stock at the end of the 2nd quarter. WealthTrust Arizona LLC’s holdings in Alphabet were worth $108,000 at the end of the most recent quarter.
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.
Alphabet Inc. (GOOGL) opened at 943.26 on Friday. The firm has a 50 day moving average of $939.49 and a 200-day moving average of $928.76. The firm has a market cap of $653.57 billion, a P/E ratio of 34.18 and a beta of 0.98. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. Alphabet also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 20,437 call options on the stock. This represents 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 EPS for the quarter, missing the 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 company had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company posted $8.42 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
A number of research firms have weighed in on GOOGL. Societe Generale set a $1,210.00 target price on Alphabet and gave the stock 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 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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