Smart Portfolios LLC Acquires 30 Shares of Alphabet Inc (NASDAQ:GOOGL)

Smart Portfolios LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 365 shares of the information services provider’s stock after buying an additional 30 shares during the period. Alphabet makes up about 0.6% of Smart Portfolios LLC’s investment portfolio, making the stock its 17th largest position. Smart Portfolios LLC’s holdings in Alphabet were worth $424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. grew its holdings in shares of 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. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $76,173,000. Eagle Asset Management Inc. grew its holdings in shares of Alphabet by 0.9% during the 4th quarter. Eagle Asset Management Inc. now owns 6,805 shares of the information services provider’s stock worth $9,114,000 after purchasing an additional 63 shares in the last quarter. Blue Whale Capital LLP acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $9,670,000. Finally, Watchman Group Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $2,104,000. 34.22% of the stock is currently owned by institutional investors.

NASDAQ GOOGL traded down $5.25 on Wednesday, reaching $1,437.06. The company had a trading volume of 62,633 shares, compared to its average volume of 1,676,941. The stock’s 50 day moving average is $1,340.56 and its 200-day moving average is $1,337.46. The stock has a market cap of $984.55 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.15 and a beta of 1.07. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business had revenue of $33.71 billion during the quarter, compared to analyst estimates of $32.59 billion. During the same period in the previous year, the firm posted $9.50 earnings per share. As a group, analysts forecast that Alphabet Inc will post 41.47 EPS for the current year.

GOOGL has been the topic of several recent analyst reports. Atlantic Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Alphabet in a research note on Wednesday, April 29th. Pivotal Research decreased their price target on Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Argus reaffirmed a “buy” rating and issued a $1,620.00 price target (up previously from $1,450.00) on shares of Alphabet in a research note on Wednesday, February 5th. SunTrust Banks boosted their price target on Alphabet from $1,350.00 to $1,550.00 and gave the company a “buy” rating in a research note on Friday, April 24th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “buy” rating and issued a $1,769.00 price target on shares of Alphabet in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,510.46.

About Alphabet

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.

Read More: How to identify percentage decliners

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).

Institutional Ownership by Quarter for Alphabet (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.