Hayek Kallen Investment Management Increases Holdings in Alphabet Inc (NASDAQ:GOOGL)

Hayek Kallen Investment Management grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,191 shares of the information services provider’s stock after buying an additional 23 shares during the quarter. Alphabet accounts for approximately 2.4% of Hayek Kallen Investment Management’s holdings, making the stock its 12th biggest holding. Hayek Kallen Investment Management’s holdings in Alphabet were worth $3,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thoroughbred Financial Services LLC boosted its stake in Alphabet by 205,910.9% in the second quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after purchasing an additional 3,391,353 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Alphabet by 2,010.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock valued at $2,397,786,000 after purchasing an additional 2,109,515 shares in the last quarter. Invesco Ltd. boosted its position in shares of Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after purchasing an additional 1,285,824 shares in the last quarter. Packer & Co Ltd boosted its position in shares of Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in shares of Alphabet by 52.9% during the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock valued at $1,114,175,000 after purchasing an additional 355,900 shares in the last quarter. Hedge funds and other institutional investors own 33.56% of the company’s stock.

GOOGL has been the subject of a number of analyst reports. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Oppenheimer set a $1,370.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. FBN Securities set a $1,400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Nomura reiterated a “buy” rating and issued a $1,400.00 price objective (up previously from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, JMP Securities raised their price objective on shares of Alphabet to $1,450.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,406.25.

NASDAQ:GOOGL traded up $2.06 during mid-day trading on Friday, hitting $1,309.00. 1,519,600 shares of the company’s stock traded hands, compared to its average volume of 1,555,468. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,322.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. The company has a market cap of $895.48 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm’s 50 day simple moving average is $1,241.32 and its 200 day simple moving average is $1,181.32.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the consensus estimate of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The business had revenue of $33.01 billion during the quarter, compared to the consensus estimate of $32.84 billion. During the same period in the prior year, the company posted $13.06 earnings per share. On average, research analysts expect that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

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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