AGF Investments Inc. Buys 5,583 Shares of Alphabet Inc (NASDAQ:GOOGL)

AGF Investments Inc. increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 13.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,979 shares of the information services provider’s stock after purchasing an additional 5,583 shares during the period. AGF Investments Inc.’s holdings in Alphabet were worth $54,587,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. State Street Corp grew its position in Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 11,643,410 shares of the information services provider’s stock valued at $15,595,067,000 after acquiring an additional 72,165 shares during the last quarter. Norges Bank bought a new position in Alphabet in the fourth quarter valued at about $6,806,866,000. Geode Capital Management LLC grew its position in Alphabet by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,678,851 shares of the information services provider’s stock valued at $6,254,548,000 after acquiring an additional 110,137 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,069,831 shares of the information services provider’s stock valued at $3,566,990,000 after acquiring an additional 38,653 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Alphabet by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,731,617 shares of the information services provider’s stock valued at $3,658,702,000 after acquiring an additional 57,295 shares during the last quarter. Institutional investors own 34.29% of the company’s stock.

Shares of GOOGL opened at $1,413.24 on Friday. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The business’s 50 day moving average price is $1,281.39 and its two-hundred day moving average price is $1,330.33. The firm has a market cap of $960.27 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. During the same period in the previous year, the company earned $9.50 earnings per share. Research analysts predict that Alphabet Inc will post 41.47 EPS for the current fiscal year.

A number of research analysts have issued reports on GOOGL shares. Mizuho lifted their target price on Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price target on the stock in a report on Friday, March 13th. Wedbush boosted their price target on Alphabet from $1,375.00 to $1,550.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. They noted that the move was a valuation call. 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 report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a hold rating and forty-three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,505.34.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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