Murphy Middleton Hinkle & Parker Inc. bought a new position in Alphabet Inc (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 167 shares of the information services provider’s stock, valued at approximately $204,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Massey Quick Simon & CO. LLC grew its position in shares of Alphabet by 50.8% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 190 shares of the information services provider’s stock worth $232,000 after buying an additional 64 shares in the last quarter. Wells Trecaso Financial Group LLC grew its position in shares of Alphabet by 2.1% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 3,426 shares of the information services provider’s stock worth $4,183,000 after buying an additional 72 shares in the last quarter. Peregrine Capital Management LLC grew its position in shares of Alphabet by 6.7% during the 3rd quarter. Peregrine Capital Management LLC now owns 20,217 shares of the information services provider’s stock worth $24,688,000 after buying an additional 1,272 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alphabet by 59.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 261,002 shares of the information services provider’s stock worth $318,720,000 after buying an additional 97,515 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Alphabet by 8.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,234 shares of the information services provider’s stock worth $29,593,000 after buying an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

A number of brokerages recently weighed in on GOOGL. Bank of America set a $1,450.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price objective on the stock in a research report on Monday, July 8th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Canaccord Genuity raised their price objective on Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp reiterated an “overweight” rating and issued a $1,516.00 price target (up from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,375.78.

Shares of NASDAQ:GOOGL opened at $1,257.93 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The business’s 50 day moving average price is $1,212.98 and its 200-day moving average price is $1,175.12. The firm has a market capitalization of $872.25 billion, a PE ratio of 26.48, a P/E/G ratio of 1.43 and a beta of 0.99. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, analysts expect that Alphabet Inc will post 51.29 earnings per share for the current year.

About Alphabet

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.

Recommended Story: Market Capitalization and Individual Investors

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.