Old North State Trust LLC Acquires 35 Shares of Alphabet Inc (NASDAQ:GOOGL)

Old North State Trust LLC lifted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132 shares of the information services provider’s stock after acquiring an additional 35 shares during the period. Old North State Trust LLC’s holdings in Alphabet were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wrapmanager Inc. lifted its stake in Alphabet by 1.6% in the fourth quarter. Wrapmanager Inc. now owns 448 shares of the information services provider’s stock valued at $600,000 after buying an additional 7 shares during the last quarter. Droms Strauss Advisors Inc. MO ADV lifted its stake in Alphabet by 3.4% in the first quarter. Droms Strauss Advisors Inc. MO ADV now owns 246 shares of the information services provider’s stock valued at $286,000 after buying an additional 8 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Alphabet by 4.8% during the first quarter. Apollon Wealth Management LLC now owns 173 shares of the information services provider’s stock valued at $201,000 after purchasing an additional 8 shares during the period. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Alphabet by 2.3% during the first quarter. Analyst IMS Investment Management Services Ltd. now owns 362 shares of the information services provider’s stock valued at $420,000 after purchasing an additional 8 shares during the period. Finally, Wealthsource Partners LLC increased its holdings in shares of Alphabet by 0.9% during the first quarter. Wealthsource Partners LLC now owns 885 shares of the information services provider’s stock valued at $1,028,000 after purchasing an additional 8 shares during the period. 34.22% of the stock is owned by institutional investors.

GOOGL has been the topic of a number of research analyst reports. Tigress Financial reissued a “buy” rating on shares of Alphabet in a report on Monday, March 23rd. UBS Group lowered their price target on Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Bank of America lifted their target price on Alphabet from $1,372.00 to $1,420.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Alphabet from $1,340.00 to $1,505.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Mizuho increased their price target on Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,510.46.

NASDAQ GOOGL traded down $12.79 during trading on Friday, hitting $1,421.33. The company’s stock had a trading volume of 142,674 shares, compared to its average volume of 1,572,227. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $1,396.64 and a 200 day moving average price of $1,347.36. The firm has a market cap of $972.49 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The business had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same period in the prior year, the firm earned $9.50 earnings per share. On average, equities analysts expect that Alphabet Inc will post 41.47 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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