Granite Springs Asset Management LLC grew its position in Alphabet Inc Class A (NASDAQ:GOOGL) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,733 shares of the information services provider’s stock after acquiring an additional 50 shares during the quarter. Alphabet Inc Class A accounts for about 1.7% of Granite Springs Asset Management LLC’s holdings, making the stock its 6th largest position. Granite Springs Asset Management LLC’s holdings in Alphabet Inc Class A were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. HC Financial Advisors Inc. purchased a new stake in shares of Alphabet Inc Class A in the fourth quarter worth $616,000. Alexandria Capital LLC increased its stake in shares of Alphabet Inc Class A by 613.8% in the fourth quarter. Alexandria Capital LLC now owns 571 shares of the information services provider’s stock worth $601,000 after purchasing an additional 491 shares in the last quarter. Dragon Financial & Investment Group LLC purchased a new stake in shares of Alphabet Inc Class A in the fourth quarter worth $332,000. B. Riley Financial Inc. increased its stake in shares of Alphabet Inc Class A by 304.9% in the fourth quarter. B. Riley Financial Inc. now owns 1,069 shares of the information services provider’s stock worth $1,126,000 after purchasing an additional 805 shares in the last quarter. Finally, Stelac Advisory Services LLC increased its stake in shares of Alphabet Inc Class A by 61.2% in the fourth quarter. Stelac Advisory Services LLC now owns 208 shares of the information services provider’s stock worth $219,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 33.56% of the company’s stock.

A number of analysts have recently issued reports on the stock. Monness Crespi & Hardt increased their price objective on shares of Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Zacks Investment Research cut shares of Alphabet Inc Class A from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Canaccord Genuity reaffirmed a “hold” rating and set a $1,170.00 target price (up from $1,050.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. ValuEngine raised shares of Alphabet Inc Class A from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,250.00 target price (up from $1,200.00) on shares of Alphabet Inc Class A in a research note on Thursday, June 28th. Five investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,313.72.

Shares of NASDAQ:GOOGL opened at $1,167.11 on Wednesday. Alphabet Inc Class A has a 52 week low of $924.51 and a 52 week high of $1,291.44. The firm has a market capitalization of $819.81 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.

Alphabet Inc Class A (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping analysts’ consensus estimates of $9.51 by $2.24. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the company posted $5.01 EPS. research analysts expect that Alphabet Inc Class A will post 42.46 EPS for the current fiscal year.

About Alphabet Inc Class A

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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