Bellevue Asset Management LLC lifted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 539 shares of the information services provider’s stock after buying an additional 27 shares during the quarter. Bellevue Asset Management LLC’s holdings in Alphabet were worth $685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stephenson National Bank & Trust purchased a new stake in Alphabet in the 4th quarter worth $27,000. Cox Capital Mgt LLC purchased a new stake in Alphabet in the 1st quarter worth $27,000. HighMark Wealth Management LLC purchased a new stake in Alphabet in the 4th quarter worth $34,000. Advocacy Wealth Management Services LLC lifted its stake in Alphabet by 54.5% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 34 shares of the information services provider’s stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Finally, Spence Asset Management lifted its stake in Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 34.22% of the company’s stock.

Alphabet stock traded up $25.72 during midday trading on Friday, reaching $1,440.02. The stock had a trading volume of 2,131,411 shares, compared to its average volume of 2,348,008. The stock has a market capitalization of $978.84 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74. The firm’s fifty day simple moving average is $1,349.85 and its 200-day simple moving average is $1,338.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The firm had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter last year, the firm earned $9.50 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on GOOGL. BMO Capital Markets restated an “outperform” rating and set a $1,550.00 target price (up from $1,400.00) on shares of Alphabet in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Nomura upped their price target on shares of Alphabet from $1,680.00 to $1,700.00 in a research report on Wednesday, April 29th. Citigroup upped their price target on shares of Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Stifel Nicolaus upped their price target on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,510.46.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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