Spirit of America Management Corp NY grew its holdings in Alphabet Inc (NASDAQ:GOOGL) by 96.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,870 shares of the information services provider’s stock after buying an additional 920 shares during the period. Spirit of America Management Corp NY’s holdings in Alphabet were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Stephenson National Bank & Trust acquired a new stake in Alphabet during the fourth quarter worth about $27,000. Cox Capital Mgt LLC acquired a new stake in Alphabet during the first quarter worth about $27,000. HighMark Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Spence Asset Management increased its position in Alphabet by 45.5% during the first quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC increased its position in Alphabet by 54.5% during the first 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 during the last quarter. Institutional investors and hedge funds own 34.22% of the company’s stock.

Shares of GOOGL traded down $1.11 during mid-day trading on Friday, hitting $1,517.55. 57,199 shares of the company’s stock were exchanged, compared to its average volume of 1,968,165. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,530.74. The firm has a market capitalization of $1,026.39 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.27 and a beta of 1.06. The business’s 50 day moving average is $1,432.39 and its two-hundred day moving average is $1,358.41. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). The firm had revenue of $33.71 billion during the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter in the previous year, the business earned $9.50 EPS. On average, equities research analysts forecast that Alphabet Inc will post 41.23 earnings per share for the current year.

Several research firms recently issued reports on GOOGL. Independent Research upgraded shares of Alphabet to a “buy” rating and set a $1,520.00 price objective for the company in a research report on Friday, March 13th. Loop Capital increased their target price on shares of Alphabet from $1,320.00 to $1,400.00 in a research note on Thursday, April 9th. Nomura increased their target price on shares of Alphabet from $1,680.00 to $1,700.00 in a research note on Wednesday, April 29th. Credit Suisse Group increased their target price on shares of Alphabet from $1,500.00 to $1,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Alphabet in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,543.39.

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

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