4,428 Shares in Alphabet Inc (GOOGL) Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd purchased a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,428 shares of the information services provider’s stock, valued at approximately $5,000,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC raised its stake in Alphabet by 7.7% in the second quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock valued at $646,000 after buying an additional 41 shares during the last quarter. Boston Family Office LLC raised its stake in Alphabet by 1.8% in the second quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock valued at $2,769,000 after buying an additional 43 shares during the last quarter. Warren Averett Asset Management LLC raised its stake in Alphabet by 2.7% in the second quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock valued at $1,873,000 after buying an additional 44 shares during the last quarter. Hollencrest Capital Management raised its stake in Alphabet by 4.1% in the second quarter. Hollencrest Capital Management now owns 1,132 shares of the information services provider’s stock valued at $1,279,000 after buying an additional 45 shares during the last quarter. Finally, West Chester Capital Advisors Inc. raised its stake in Alphabet by 11.5% in the second quarter. West Chester Capital Advisors Inc. now owns 437 shares of the information services provider’s stock valued at $494,000 after buying an additional 45 shares during the last quarter. 33.40% of the stock is currently owned by institutional investors and hedge funds.

GOOGL has been the subject of a number of research analyst reports. Macquarie reiterated a “buy” rating and issued a $1,250.00 price target on shares of Alphabet in a research note on Wednesday, August 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,450.00 price target on shares of Alphabet in a research note on Tuesday, August 21st. MKM Partners increased their price target on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $1,515.00 price target (up from $1,325.00) on shares of Alphabet in a research note on Wednesday, August 29th. Finally, Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,333.29.

Shares of NASDAQ:GOOGL opened at $1,030.10 on Friday. Alphabet Inc has a 52-week low of $984.00 and a 52-week high of $1,291.44. The stock has a market capitalization of $726.10 billion, a PE ratio of 32.14, a PEG ratio of 1.28 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the consensus estimate of $10.54 by $2.52. The firm had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. As a group, equities analysts predict that Alphabet Inc will post 45.02 earnings per share for the current fiscal year.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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