Omega Advisors Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.9% during the first quarter, Holdings Channel reports. The institutional investor owned 158,835 shares of the information services provider’s stock after buying an additional 19,440 shares during the period. Alphabet makes up about 5.4% of Omega Advisors Inc.’s investment portfolio, making the stock its largest position. Omega Advisors Inc.’s holdings in Alphabet were worth $134,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ancora Advisors LLC increased its position in shares of Alphabet by 261.6% in the fourth quarter. Ancora Advisors LLC now owns 3,913 shares of the information services provider’s stock valued at $3,101,000 after buying an additional 2,831 shares in the last quarter. Alta Capital Management LLC increased its position in shares of Alphabet by 1.3% in the first quarter. Alta Capital Management LLC now owns 79,008 shares of the information services provider’s stock valued at $66,982,000 after buying an additional 1,001 shares in the last quarter. Chescapmanager LLC acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $9,509,000. Patriot Wealth Management Inc. increased its position in shares of Alphabet by 2.6% in the first quarter. Patriot Wealth Management Inc. now owns 5,599 shares of the information services provider’s stock valued at $4,747,000 after buying an additional 141 shares in the last quarter. Finally, JW Asset Management LLC increased its position in shares of Alphabet by 40.0% in the fourth quarter. JW Asset Management LLC now owns 10,500 shares of the information services provider’s stock valued at $8,321,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 34.31% of the company’s stock.

Shares of Alphabet Inc. (GOOGL) traded down 0.9126% during midday trading on Thursday, hitting $931.5013. The company had a trading volume of 640,223 shares. The firm’s 50 day moving average is $959.12 and its 200 day moving average is $908.27. The company has a market capitalization of $645.42 billion, a P/E ratio of 33.7586 and a beta of 0.99. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter in the prior year, the firm posted $8.42 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

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Several research analysts have recently commented on GOOGL shares. JMP Securities reiterated an “outperform” rating and set a $1,095.00 target price (up from $1,020.00) on shares of Alphabet in a research note on Monday, May 1st. Cowen and Company reiterated an “outperform” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Monday, April 24th. Societe Generale set a $1,210.00 target price on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reiterated a “buy” rating and set a $1,170.00 target price (up from $1,000.00) on shares of Alphabet in a research note on Monday, May 8th. Finally, Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target for the company. in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $1,047.81.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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