MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys Shares of 1,103 Alphabet Inc. (NASDAQ:GOOGL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,103 shares of the information services provider’s stock, valued at approximately $1,617,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. New England Research & Management Inc. boosted its stake in shares of Alphabet by 7.9% during the 1st quarter. New England Research & Management Inc. now owns 1,023 shares of the information services provider’s stock worth $1,189,000 after buying an additional 75 shares during the last quarter. Zebra Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $240,000. State Street Corp raised its holdings in shares of Alphabet by 0.4% in the 1st quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after purchasing an additional 45,599 shares during the period. Morgan Stanley raised its holdings in shares of Alphabet by 4.6% in the 1st quarter. Morgan Stanley now owns 2,573,124 shares of the information services provider’s stock valued at $2,989,841,000 after purchasing an additional 114,032 shares during the period. Finally, AXA raised its holdings in shares of Alphabet by 28.1% in the 1st quarter. AXA now owns 208,526 shares of the information services provider’s stock valued at $242,297,000 after purchasing an additional 45,778 shares during the period. 33.78% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on GOOGL shares. 140166 increased their price target on shares of Alphabet from $1,550.00 to $1,850.00 and gave the company a “positive” rating in a report on Friday, July 31st. Moffett Nathanson increased their price target on shares of Alphabet from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Credit Suisse Group raised their target price on shares of Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Royal Bank of Canada raised their target price on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Pivotal Research raised their target price on shares of Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,679.91.

Shares of NASDAQ:GOOGL traded up $16.44 during trading on Tuesday, reaching $1,546.39. The company had a trading volume of 10,207 shares, compared to its average volume of 2,090,136. The company has a fifty day moving average of $1,515.64 and a two-hundred day moving average of $1,439.76. The stock has a market capitalization of $1,040.62 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Alphabet Inc. has a 12 month low of $1,008.87 and a 12 month high of $1,726.10. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities research analysts predict that Alphabet Inc. will post 44.87 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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