Alphabet Inc (NASDAQ:GOOGL) Shares Purchased by Nachman Norwood & Parrott Inc
Nachman Norwood & Parrott Inc increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 557 shares of the information services provider’s stock after acquiring an additional 30 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Alphabet were worth $680,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $37,000. Belvedere Advisors LLC purchased a new position in Alphabet in the 1st quarter valued at about $38,000. Thor Advisors LLC purchased a new position in Alphabet in the 1st quarter valued at about $45,000. Lipe & Dalton purchased a new position in Alphabet in the 2nd quarter valued at about $49,000. Finally, Johnson Financial Group Inc. lifted its stake in Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 33.50% of the company’s stock.
A number of brokerages recently weighed in on GOOGL. Susquehanna Bancshares raised their price target on shares of Alphabet to $1,550.00 in a research note on Friday, July 26th. Mizuho raised their price target on shares of Alphabet from $1,350.00 to $1,400.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. Wedbush raised their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Finally, Bank of America set a $1,450.00 price target on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,375.78.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, equities research analysts expect that Alphabet Inc will post 51.29 earnings per share for the current year.
Alphabet Company Profile
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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