Lake Street Financial LLC grew its holdings in Alphabet Inc (NASDAQ:GOOGL) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,364 shares of the information services provider’s stock after purchasing an additional 314 shares during the period. Alphabet comprises about 1.3% of Lake Street Financial LLC’s investment portfolio, making the stock its 21st biggest holding. Lake Street Financial LLC’s holdings in Alphabet were worth $2,747,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Ilmarinen Mutual Pension Insurance Co bought a new stake in Alphabet during the third quarter valued at about $61,057,000. AJ Wealth Strategies LLC grew its holdings in Alphabet by 15.2% during the third quarter. AJ Wealth Strategies LLC now owns 228 shares of the information services provider’s stock valued at $278,000 after purchasing an additional 30 shares during the period. UMA Financial Services Inc. bought a new stake in Alphabet during the third quarter valued at about $543,000. Voya Financial Advisors Inc. grew its holdings in Alphabet by 6.0% during the third quarter. Voya Financial Advisors Inc. now owns 11,186 shares of the information services provider’s stock valued at $13,713,000 after purchasing an additional 632 shares during the period. Finally, Redpoint Investment Management Pty Ltd grew its holdings in Alphabet by 2.5% during the third quarter. Redpoint Investment Management Pty Ltd now owns 20,662 shares of the information services provider’s stock valued at $25,231,000 after purchasing an additional 506 shares during the period. 35.06% of the stock is owned by institutional investors and hedge funds.
NASDAQ:GOOGL traded down $0.63 during midday trading on Tuesday, hitting $1,182.56. The stock had a trading volume of 3,077,803 shares, compared to its average volume of 3,634,016. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,530.74. The company has a market capitalization of $812.75 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.46 and a beta of 1.04. The stock has a 50-day moving average of $1,258.69 and a 200 day moving average of $1,314.71. The company has a quick ratio of 3.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.07.
GOOGL has been the subject of several recent research reports. Monness Crespi & Hardt cut their price target on Alphabet from $1,535.00 to $1,350.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Canaccord Genuity upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada restated a “buy” rating and issued a $1,350.00 price objective on shares of Alphabet in a research report on Sunday, March 29th. Nomura boosted their price objective on Alphabet from $1,560.00 to $1,680.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Mizuho restated a “buy” rating and issued a $1,650.00 price objective (up from $1,450.00) on shares of Alphabet in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and forty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,487.91.
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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