SNS Financial Group LLC raised its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 547 shares of the information services provider’s stock after purchasing an additional 57 shares during the period. SNS Financial Group LLC’s holdings in Alphabet were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Belvedere Advisors LLC acquired a new position in Alphabet in the first quarter valued at approximately $38,000. Thor Advisors LLC purchased a new stake in Alphabet in the first quarter valued at approximately $45,000. Lipe & Dalton purchased a new stake in Alphabet in the second quarter valued at approximately $49,000. JJJ Advisors Inc. grew its stake in shares of Alphabet by 204.8% in the second quarter. JJJ Advisors Inc. now owns 64 shares of the information services provider’s stock worth $69,000 after acquiring an additional 43 shares in the last quarter. Finally, Lavaca Capital LLC acquired a new position in shares of Alphabet in the fourth quarter worth $97,000. Institutional investors own 33.94% of the company’s stock.
A number of equities analysts recently commented on the stock. Nomura reiterated a “buy” rating and set a $1,400.00 target price (up previously from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Macquarie set a $1,300.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. KeyCorp reaffirmed an “overweight” rating and issued a $1,516.00 target price (up from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Canaccord Genuity upped their target price on shares of Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,371.05.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. On average, sell-side analysts predict that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.
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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