Whitnell & Co. Raises Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Whitnell & Co. increased its position in Alphabet Inc (NASDAQ:GOOGL) by 42.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,301 shares of the information services provider’s stock after purchasing an additional 386 shares during the period. Whitnell & Co.’s holdings in Alphabet were worth $1,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet in the second quarter worth about $37,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Alphabet in the third quarter worth about $39,000. Lipe & Dalton bought a new position in shares of Alphabet in the second quarter worth about $49,000. Johnson Financial Group Inc. raised its stake in shares of Alphabet by 26.3% in the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after buying an additional 10 shares during the period. Finally, Vista Private Wealth Partners. LLC bought a new position in shares of Alphabet in the third quarter worth about $60,000. 33.56% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ GOOGL traded up $2.06 during trading on Friday, hitting $1,309.00. 1,519,600 shares of the stock traded hands, compared to its average volume of 1,555,468. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,322.65. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $895.48 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm has a 50-day simple moving average of $1,241.32 and a 200-day simple moving average of $1,181.32.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). The business had revenue of $33.01 billion for the quarter, compared to the consensus estimate of $32.84 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. During the same period in the prior year, the business posted $13.06 earnings per share. As a group, research analysts predict that Alphabet Inc will post 49.05 EPS for the current fiscal year.

GOOGL has been the subject of several research analyst reports. Oppenheimer set a $1,370.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,322.00 target price for the company in a research report on Friday, October 25th. Stifel Nicolaus increased their target price on Alphabet from $1,299.00 to $1,325.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Canaccord Genuity increased their target price on Alphabet from $1,350.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, MKM Partners reiterated a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,406.25.

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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