Garde Capital Inc. Boosts Position in Alphabet Inc (NASDAQ:GOOGL)

Garde Capital Inc. increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,621 shares of the information services provider’s stock after buying an additional 156 shares during the period. Garde Capital Inc.’s holdings in Alphabet were worth $3,717,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOGL. PNC Financial Services Group Inc. increased its position in Alphabet by 1.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 483,778 shares of the information services provider’s stock valued at $686,023,000 after purchasing an additional 7,950 shares during the period. Advisor OS LLC purchased a new position in Alphabet during the 2nd quarter valued at about $440,000. WFA of San Diego LLC purchased a new position in Alphabet during the 2nd quarter valued at about $1,324,000. Handelsbanken Fonder AB increased its position in Alphabet by 121.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 115,123 shares of the information services provider’s stock valued at $163,250,000 after purchasing an additional 63,244 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Alphabet by 6.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,047 shares of the information services provider’s stock valued at $2,903,000 after purchasing an additional 121 shares during the period. 33.78% of the stock is currently owned by institutional investors.

GOOGL has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Alphabet from $1,700.00 to $1,760.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Royal Bank of Canada lifted their price objective on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Canaccord Genuity lifted their price objective on shares of Alphabet from $1,700.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Susquehanna Bancshares lifted their price objective on shares of Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Finally, Goldman Sachs Group lifted their price objective on shares of Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. Alphabet presently has an average rating of “Buy” and an average target price of $1,666.49.

Shares of NASDAQ:GOOGL traded up $26.29 during trading on Tuesday, hitting $1,535.12. 1,149,305 shares of the stock traded hands, compared to its average volume of 2,132,642. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company has a market cap of $1,026.25 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 2.08 and a beta of 1.07. The company has a fifty day moving average price of $1,548.42 and a two-hundred day moving average price of $1,393.09. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. On average, equities research analysts predict that Alphabet Inc will post 44.74 EPS for the current fiscal year.

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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