Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,980 shares of the information services provider’s stock after acquiring an additional 83 shares during the period. Alphabet makes up approximately 2.4% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 2nd biggest holding. Pekin Hardy Strauss Inc.’s holdings in Alphabet were worth $17,044,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cohen Investment Advisors LLC boosted its stake in shares of Alphabet by 22,787.8% during the 1st quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock worth $2,861,000 after acquiring an additional 350,477 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in Alphabet during the first quarter worth $595,998,000. Parnassus Investments CA boosted its position in Alphabet by 46.7% during the second quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock worth $1,692,336,000 after purchasing an additional 220,762 shares in the last quarter. Jennison Associates LLC grew its holdings in Alphabet by 16.0% in the first quarter. Jennison Associates LLC now owns 1,436,684 shares of the information services provider’s stock valued at $2,963,189,000 after purchasing an additional 197,838 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Alphabet by 101.2% in the first quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock valued at $784,586,000 after buying an additional 191,361 shares in the last quarter. Hedge funds and other institutional investors own 34.43% of the company’s stock.

Several equities analysts have weighed in on the company. KGI Securities started coverage on Alphabet in a research report on Wednesday, June 2nd. They set an “outperform” rating and a $3,000.00 price target for the company. Credit Suisse Group boosted their target price on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Morgan Stanley raised their price target on shares of Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Canaccord Genuity boosted their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $2,846.21.

GOOGL stock traded up $21.99 on Thursday, hitting $2,827.66. 45,603 shares of the company’s stock traded hands, compared to its average volume of 1,527,584. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 1-year low of $1,402.15 and a 1-year high of $2,925.07. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $2,756.23 and a 200-day moving average of $2,457.74.

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