Alphabet Inc (NASDAQ:GOOGL) Shares Acquired by Summit X LLC
Summit X LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,377 shares of the information services provider’s stock after purchasing an additional 184 shares during the quarter. Alphabet makes up about 1.3% of Summit X LLC’s investment portfolio, making the stock its 17th largest holding. Summit X LLC’s holdings in Alphabet were worth $2,756,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Bank OZK boosted its stake in Alphabet by 2.7% during the fourth quarter. Bank OZK now owns 1,642 shares of the information services provider’s stock valued at $2,199,000 after buying an additional 43 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Alphabet by 23.8% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 159,195 shares of the information services provider’s stock valued at $213,237,000 after purchasing an additional 30,567 shares in the last quarter. Bull Street Advisors LLC lifted its position in shares of Alphabet by 2.1% in the fourth quarter. Bull Street Advisors LLC now owns 488 shares of the information services provider’s stock worth $654,000 after purchasing an additional 10 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Alphabet by 4.4% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 331 shares of the information services provider’s stock valued at $443,000 after purchasing an additional 14 shares during the last quarter. Finally, First American Trust FSB grew its stake in shares of Alphabet by 2.1% in the 4th quarter. First American Trust FSB now owns 10,015 shares of the information services provider’s stock valued at $13,414,000 after buying an additional 202 shares in the last quarter. 34.22% of the stock is owned by hedge funds and other institutional investors.
GOOGL has been the subject of several analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $1,445.00 price objective on shares of Alphabet in a research note on Wednesday, April 29th. Bank of America boosted their price target on Alphabet from $1,372.00 to $1,420.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. UBS Group lowered their price objective on Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Societe Generale reduced their target price on Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. They noted that the move was a valuation call. Finally, Nomura Instinet upped their price objective on shares of Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1,510.46.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $33.71 billion for the quarter, compared to the consensus estimate of $32.59 billion. During the same period last year, the business earned $9.50 EPS. As a group, equities analysts anticipate that Alphabet Inc will post 41.47 EPS 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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