Chesley Taft & Associates LLC Increases Stake in Alphabet Inc (NASDAQ:GOOGL)

Chesley Taft & Associates LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,918 shares of the information services provider’s stock after acquiring an additional 58 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Alphabet were worth $11,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. raised its stake in shares of Alphabet by 29.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock valued at $1,297,422,000 after acquiring an additional 219,626 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Alphabet in the 4th quarter worth about $76,173,000. Blue Whale Capital LLP purchased a new position in Alphabet in the 4th quarter worth about $9,670,000. Redhawk Wealth Advisors Inc. increased its stake in Alphabet by 34.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 386 shares of the information services provider’s stock worth $517,000 after buying an additional 99 shares during the period. Finally, Wintrust Investments LLC increased its stake in Alphabet by 13.3% in the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock worth $1,136,000 after buying an additional 115 shares during the period. 34.22% of the stock is currently owned by institutional investors and hedge funds.

GOOGL traded up $13.68 during trading on Wednesday, reaching $1,503.60. 1,576,905 shares of the company’s stock were exchanged, compared to its average volume of 1,946,304. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $1,026.39 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.26 and a beta of 1.06. The company’s fifty day simple moving average is $1,427.71 and its 200-day simple moving average is $1,356.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The business had revenue of $33.71 billion for the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same period in the prior year, the business posted $9.50 earnings per share. Equities analysts forecast that Alphabet Inc will post 41.23 EPS for the current year.

GOOGL has been the topic of several recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Alphabet in a research note on Monday, April 27th. Loop Capital raised their price target on shares of Alphabet from $1,320.00 to $1,400.00 in a research note on Thursday, April 9th. Credit Suisse Group raised their price target 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. Bank of America reaffirmed a “buy” rating and issued a $1,610.00 price target on shares of Alphabet in a research note on Monday, June 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1,536.87.

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.

Featured Story: How do analysts define an oversold condition?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.