Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Inverness Counsel LLC NY

Inverness Counsel LLC NY increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,380 shares of the information services provider’s stock after purchasing an additional 622 shares during the quarter. Alphabet makes up approximately 3.2% of Inverness Counsel LLC NY’s holdings, making the stock its 7th largest holding. Inverness Counsel LLC NY’s holdings in Alphabet were worth $88,832,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Laurel Wealth Planning LLC bought a new position in shares of Alphabet during the second quarter valued at $27,000. Sage Financial Management Group Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at about $56,000. Harvest Group Wealth Management LLC bought a new position in Alphabet in the second quarter worth approximately $66,000. DB Wealth Management Group LLC grew its holdings in Alphabet by 18.9% during the first quarter. DB Wealth Management Group LLC now owns 44 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 7 shares during the period. Finally, BigSur Wealth Management LLC increased its position in Alphabet by 80.0% in the first quarter. BigSur Wealth Management LLC now owns 45 shares of the information services provider’s stock worth $93,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

Several research firms recently issued reports on GOOGL. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Susquehanna Bancshares raised their price target on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Needham & Company LLC upped their price objective on Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. BMO Capital Markets increased their target price on Alphabet from $2,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Finally, Credit Suisse Group lifted their price objective on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Three research analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $2,841.72.

NASDAQ:GOOGL traded down $10.68 on Wednesday, reaching $2,840.21. 23,074 shares of the company’s stock were exchanged, compared to its average volume of 1,521,662. The firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 52-week low of $1,402.15 and a 52-week high of $2,925.07. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $2,721.31 and a 200-day moving average of $2,428.14.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The firm had revenue of $50.95 billion during the quarter, compared to analysts’ expectations of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same period in the previous year, the firm posted $10.13 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current year.

Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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