Garrison Point Advisors LLC Purchases New Position in Alphabet Inc (NASDAQ:GOOGL)

Garrison Point Advisors LLC purchased a new position in Alphabet Inc (NASDAQ:GOOGL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,322 shares of the information services provider’s stock, valued at approximately $1,381,000. Alphabet comprises 1.7% of Garrison Point Advisors LLC’s investment portfolio, making the stock its 13th largest position.

Other large investors have also added to or reduced their stakes in the company. TMD & Associates Inc. raised its position in Alphabet by 13.0% during the fourth quarter. TMD & Associates Inc. now owns 218 shares of the information services provider’s stock worth $228,000 after acquiring an additional 25 shares in the last quarter. FLC Capital Advisors bought a new stake in Alphabet during the fourth quarter worth $606,000. Hosking Partners LLP raised its position in Alphabet by 11.2% during the fourth quarter. Hosking Partners LLP now owns 11,738 shares of the information services provider’s stock worth $12,266,000 after acquiring an additional 1,180 shares in the last quarter. Halbert Hargrove Russell LLC raised its position in Alphabet by 9.3% during the fourth quarter. Halbert Hargrove Russell LLC now owns 625 shares of the information services provider’s stock worth $653,000 after acquiring an additional 53 shares in the last quarter. Finally, Taikang Asset Management Hong Kong Co Ltd raised its position in Alphabet by 17.3% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,294 shares of the information services provider’s stock worth $1,352,000 after acquiring an additional 191 shares in the last quarter. 33.46% of the stock is owned by institutional investors.

NASDAQ:GOOGL traded up $17.20 during trading hours on Monday, hitting $1,100.00. 1,224,273 shares of the company traded hands, compared to its average volume of 1,657,963. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.93 and a current ratio of 3.96. The business’s 50-day simple moving average is $1,109.93. Alphabet Inc has a one year low of $977.66 and a one year high of $1,296.97. The firm has a market cap of $763.67 billion, a P/E ratio of 23.15, a PEG ratio of 1.28 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, beating the consensus estimate of $10.56 by $1.34. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The business had revenue of $29.48 billion for the quarter, compared to analysts’ expectations of $29.99 billion. During the same period last year, the business earned $13.33 EPS. On average, analysts forecast that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.

GOOGL has been the topic of several research reports. ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Needham & Company LLC initiated coverage on shares of Alphabet in a research note on Monday, March 4th. They issued a “buy” rating and a $1,153.42 price target on the stock. Nomura decreased their price target on shares of Alphabet from $1,310.00 to $1,300.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Argus reaffirmed a “buy” rating and set a $1,450.00 price objective on shares of Alphabet in a research report on Wednesday, May 1st. Finally, Deutsche Bank upped their price objective 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, May 15th. Eight analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,322.62.

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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