Alphabet Inc. (GOOGL) Shares Bought by Exchange Capital Management Inc.
Exchange Capital Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 33.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,232 shares of the company’s stock after buying an additional 2,041 shares during the period. Alphabet makes up 2.3% of Exchange Capital Management Inc.’s portfolio, making the stock its 10th largest position. Exchange Capital Management Inc.’s holdings in Alphabet were worth $5,791,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Alphabet by 144.9% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 169 shares of the company’s stock worth $119,000 after buying an additional 100 shares in the last quarter. SevenBridge Financial Group LLC bought a new stake in Alphabet during the first quarter worth approximately $120,000. Dividend Assets Capital LLC bought a new stake in Alphabet during the second quarter worth approximately $120,000. Finally, Peoples Financial Services CORP. boosted its stake in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 34.15% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.18% during trading on Monday, reaching $806.01. 157,353 shares of the company’s stock were exchanged. The firm has a market capitalization of $553.95 billion, a PE ratio of 31.23 and a beta of 1.00. The company’s 50-day moving average price is $801.64 and its 200 day moving average price is $761.61. Alphabet Inc. has a 52 week low of $670.70 and a 52 week high of $819.86.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Analysts predict that Alphabet Inc. will post $34.11 EPS for the current fiscal year.
GOOGL has been the subject of a number of research reports. Morgan Stanley reissued a “buy” rating and set a $880.00 target price on shares of Alphabet in a research note on Thursday, September 29th. Cantor Fitzgerald reissued a “buy” rating and set a $1,000.00 target price on shares of Alphabet in a research note on Wednesday, October 5th. Jefferies Group reissued a “buy” rating and set a $1,000.00 target price on shares of Alphabet in a research note on Monday, October 3rd. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $838.19 price objective for the company in a research note on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $960.00 price objective on shares of Alphabet in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $926.50.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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