Voloridge Investment Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,914 shares of the information services provider’s stock after acquiring an additional 5,397 shares during the quarter. Voloridge Investment Management LLC’s holdings in Alphabet were worth $67,886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Alphabet by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,329,607 shares of the information services provider’s stock valued at $15,117,461,000 after acquiring an additional 145,732 shares in the last quarter. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $9,523,211,000. Geode Capital Management LLC increased its stake in Alphabet by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 4,939,735 shares of the information services provider’s stock valued at $10,160,892,000 after buying an additional 79,686 shares during the last quarter. Morgan Stanley increased its stake in Alphabet by 27.1% in the 4th quarter. Morgan Stanley now owns 3,271,179 shares of the information services provider’s stock valued at $5,733,202,000 after buying an additional 697,236 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Alphabet by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,234,389 shares of the information services provider’s stock valued at $6,670,993,000 after buying an additional 10,002 shares during the last quarter. 34.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ GOOGL traded up $9.19 during mid-day trading on Thursday, reaching $2,560.17. 8,814 shares of the company were exchanged, compared to its average volume of 1,119,521. Alphabet Inc. has a 52 week low of $1,402.15 and a 52 week high of $2,586.53. The company has a quick ratio of 3.09, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.72 trillion, a PE ratio of 34.03, a PEG ratio of 1.54 and a beta of 1.01. The stock has a 50 day moving average of $2,423.87.
Several research firms have commented on GOOGL. JMP Securities increased their price objective on shares of Alphabet from $2,400.00 to $2,850.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $2,575.00 to $2,875.00 in a research note on Wednesday, April 28th. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $2,818.00 price target for the company. in a research note on Tuesday, June 29th. Monness Crespi & Hardt raised their price target on shares of Alphabet from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Finally, Stifel Nicolaus upgraded shares of Alphabet from a “hold” rating to a “buy” rating and raised their price target for the stock from $2,025.00 to $2,350.00 in a research note on Monday, March 29th. Three research analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $2,520.50.
Alphabet Company Profile
Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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