Alphabet Inc. (GOOGL) Position Increased by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 58.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,117 shares of the information services provider’s stock after buying an additional 412 shares during the period. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $949,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. L & S Advisors Inc purchased a new position in Alphabet during the fourth quarter valued at about $4,553,000. Menora Mivtachim Holdings LTD. increased its position in Alphabet by 5.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 128,404 shares of the information services provider’s stock valued at $101,754,000 after buying an additional 6,573 shares during the period. Capital International Inc. CA increased its position in Alphabet by 58.8% in the fourth quarter. Capital International Inc. CA now owns 6,345 shares of the information services provider’s stock valued at $5,028,000 after buying an additional 2,350 shares during the period. Princeton Portfolio Strategies Group LLC increased its position in Alphabet by 1.5% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 4,435 shares of the information services provider’s stock valued at $3,515,000 after buying an additional 64 shares during the period. Finally, Congress Asset Management Co. MA purchased a new position in Alphabet during the fourth quarter valued at about $43,891,000. 34.31% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (GOOGL) traded up 0.70% during midday trading on Friday, hitting $930.09. The stock had a trading volume of 1,616,708 shares. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The firm has a 50-day moving average of $956.22 and a 200 day moving average of $908.99. The firm has a market cap of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the business posted $8.42 EPS. On average, analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price target for the company in a research note on Monday, June 5th. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. lifted their price target on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,100.00 price target (down previously from $1,150.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Alphabet in a research note on Tuesday, July 25th. One equities research 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 assigned a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,049.20.
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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