Carillon Tower Advisers Inc. purchased a new stake in Alphabet Inc (NASDAQ:GOOGL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,214 shares of the information services provider’s stock, valued at approximately $13,791,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after acquiring an additional 269,848 shares during the last quarter. Summit Trail Advisors LLC increased its position in Alphabet by 134,676.9% during the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock worth $17,939,000 after buying an additional 17,925,496 shares during the last quarter. Bank of New York Mellon Corp increased its position in Alphabet by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock worth $3,669,682,000 after buying an additional 24,188 shares during the last quarter. Jennison Associates LLC increased its position in Alphabet by 10.1% during the second quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock worth $1,965,840,000 after buying an additional 159,959 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in Alphabet by 115,058.0% during the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock worth $1,216,000 after buying an additional 1,387,599 shares during the last quarter. Institutional investors own 33.40% of the company’s stock.

Shares of NASDAQ:GOOGL opened at $1,027.42 on Tuesday. Alphabet Inc has a 12-month low of $984.00 and a 12-month high of $1,291.44. The company has a market cap of $743.38 billion, a PE ratio of 32.06, a PEG ratio of 1.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. As a group, sell-side analysts predict that Alphabet Inc will post 45.24 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the company. Monness Crespi & Hardt boosted their price target on Alphabet from $1,306.00 to $1,415.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Canaccord Genuity reissued a “hold” rating and set a $1,170.00 price target (up previously from $1,050.00) on shares of Alphabet in a research report on Tuesday, July 24th. Mizuho reissued a “positive” rating and set a $1,460.00 price target on shares of Alphabet in a research report on Tuesday, July 24th. Citigroup reissued a “buy” rating and set a $1,400.00 price target (up previously from $1,350.00) on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Macquarie reissued a “buy” rating and set a $1,200.00 price target on shares of Alphabet in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have given a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,333.29.

TRADEMARK VIOLATION NOTICE: This article was first published by Daily Political and is owned by of Daily Political. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.dailypolitical.com/2018/11/20/carillon-tower-advisers-inc-purchases-shares-of-12214-alphabet-inc-googl.html.

Alphabet Company Profile

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.

Further Reading: Why does a company issue an IPO?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.