State Treasurer State of Michigan raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 239,238 shares of the information services provider’s stock after buying an additional 200 shares during the period. Alphabet comprises 1.7% of State Treasurer State of Michigan’s holdings, making the stock its 9th largest position. State Treasurer State of Michigan’s holdings in Alphabet were worth $222,415,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOGL. State of Alaska Department of Revenue purchased a new stake in Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet during the first quarter valued at about $108,000. Delta Asset Management LLC TN boosted 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. Farmers National Bank boosted its stake in Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares during the last quarter. 34.31% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Inc. (NASDAQ GOOGL) traded up 0.70% during trading on Friday, hitting $930.09. 1,616,708 shares of the stock were exchanged. The company has a market cap of $644.44 billion, a price-to-earnings ratio of 33.71 and a beta of 0.99. The stock’s 50 day moving average is $956.22 and its 200-day moving average is $908.99. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm earned $8.42 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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A number of brokerages have weighed in on GOOGL. UBS AG reiterated a “buy” rating and set a $1,050.00 price target (up from $980.00) on shares of Alphabet in a research report on Saturday, April 29th. B. Riley reiterated a “buy” rating and set a $1,032.00 price target on shares of Alphabet in a research report on Wednesday, May 3rd. KeyCorp reiterated an “overweight” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Thursday, July 27th. Cowen and Company reiterated an “outperform” rating and set a $1,075.00 price target on shares of Alphabet in a research report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $970.00 price target on shares of Alphabet in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target 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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