Fort Point Capital Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 118.3% during the first quarter, Holdings Channel reports. The firm owned 2,026 shares of the information services provider’s stock after buying an additional 1,098 shares during the period. Alphabet accounts for about 0.9% of Fort Point Capital Partners LLC’s holdings, making the stock its 24th largest position. Fort Point Capital Partners LLC’s holdings in Alphabet were worth $1,718,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter worth about $17,687,000. TRB Advisors LP purchased a new position in shares of Alphabet during the first quarter worth about $3,307,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of Alphabet by 18.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,730 shares of the information services provider’s stock worth $29,444,000 after buying an additional 5,381 shares during the last quarter. Omega Advisors Inc. boosted its position in shares of Alphabet by 13.9% in the first quarter. Omega Advisors Inc. now owns 158,835 shares of the information services provider’s stock worth $134,660,000 after buying an additional 19,440 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Alphabet by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 994,541 shares of the information services provider’s stock worth $843,172,000 after buying an additional 45,805 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.70% during mid-day trading on Friday, reaching $930.09. The company had a trading volume of 1,616,708 shares. The company has a market capitalization of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99. The stock’s 50-day moving average price is $956.22 and its 200 day moving average price is $908.99. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61.

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

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A number of equities analysts recently issued reports on GOOGL shares. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, April 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, April 18th. Pacific Crest reiterated an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a research note on Sunday, April 23rd. Cowen and Company reiterated an “outperform” rating and issued a $1,050.00 price target on shares of Alphabet in a research note on Monday, April 24th. Finally, Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target on the stock. in a research note on Monday, April 24th. One 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 stock. The stock has an average rating of “Buy” and an average target price of $1,049.20.

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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