Arlington Financial Advisors LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,607 shares of the information services provider’s stock after buying an additional 35 shares during the quarter. Alphabet accounts for 1.3% of Arlington Financial Advisors LLC’s holdings, making the stock its 23rd largest holding. Arlington Financial Advisors LLC’s holdings in Alphabet were worth $1,867,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Norges Bank acquired a new position in Alphabet during the 4th quarter worth $6,806,866,000. Johanson Financial Advisors Inc. grew its stake in Alphabet by 129,857.5% during the 4th quarter. Johanson Financial Advisors Inc. now owns 2,622,543 shares of the information services provider’s stock worth $1,958,000 after purchasing an additional 2,620,525 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Alphabet during the 4th quarter worth $332,028,000. Altarock Partners LLC acquired a new position in Alphabet during the 4th quarter worth $308,060,000. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Alphabet by 29.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock worth $1,297,422,000 after purchasing an additional 219,626 shares in the last quarter. 35.06% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and set a $1,800.00 price target on shares of Alphabet in a report on Thursday, March 5th. Independent Research raised Alphabet to a “buy” rating and set a $1,520.00 price target for the company in a report on Friday, March 13th. Monness Crespi & Hardt decreased 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. Evercore ISI reissued a “positive” rating and issued a $1,600.00 target price (up from $1,350.00) on shares of Alphabet in a report on Monday, January 13th. Finally, JMP Securities boosted their target price on Alphabet to and gave the company an “outperform” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,488.17.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 3rd. The information services provider reported $15.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $12.76 by $2.59. Alphabet had a net margin of 21.22% and a return on equity of 18.66%. The company had revenue of $37.57 billion during the quarter, compared to the consensus estimate of $38.44 billion. During the same quarter in the prior year, the firm earned $12.77 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 46.86 EPS 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.
Recommended Story: What strategies should day traders use to execute a trade?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.