Russell Investments Group Ltd. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)
Russell Investments Group Ltd. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.2% during the first quarter, Holdings Channel reports. The firm owned 499,770 shares of the information services provider’s stock after buying an additional 65,835 shares during the period. Alphabet comprises approximately 0.8% of Russell Investments Group Ltd.’s portfolio, making the stock its 14th largest position. Russell Investments Group Ltd.’s holdings in Alphabet were worth $423,745,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Delta Asset Management LLC TN increased its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the period. Cordasco Financial Network boosted its stake in Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock worth $199,000 after buying an additional 5 shares during the period. First Command Financial Services Inc. boosted its stake in Alphabet by 56.1% in the first quarter. First Command Financial Services Inc. now owns 242 shares of the information services provider’s stock worth $205,000 after buying an additional 87 shares during the period. Finally, American Economic Planning Group Inc. ADV acquired a new stake in Alphabet during the first quarter worth $222,000. 34.33% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) opened at 975.96 on Tuesday. Alphabet Inc. has a 12 month low of $734.64 and a 12 month high of $1,008.61. The company’s 50 day moving average price is $972.78 and its 200 day moving average price is $880.30. The stock has a market cap of $675.12 billion, a PE ratio of 32.98 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping the Zacks’ consensus estimate of $7.24 by $0.49. The business had revenue of $20.12 billion during the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same quarter last year, the company earned $7.50 EPS. Equities analysts forecast that Alphabet Inc. will post $34.03 EPS for the current fiscal year.
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A number of research firms recently weighed in on GOOGL. BMO Capital Markets restated an “outperform” rating and issued a $1,005.00 price target on shares of Alphabet in a research note on Monday, March 27th. Wedbush restated an “underperform” rating and issued a $725.00 price target (up previously from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Morgan Stanley restated an “overweight” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Saturday, March 25th. Aegis restated a “buy” rating and issued a $1,011.00 price target on shares of Alphabet in a research note on Sunday, April 2nd. Finally, Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and increased their price target for the company from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and forty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $1,018.89.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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