Cadence Bank NA bought a new stake in Alphabet Inc (NASDAQ:GOOGL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 974 shares of the information services provider’s stock, valued at approximately $1,176,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Heritage Investors Management Corp raised its position in Alphabet by 0.5% in the third quarter. Heritage Investors Management Corp now owns 22,220 shares of the information services provider’s stock worth $26,821,000 after purchasing an additional 115 shares in the last quarter. Fort Pitt Capital Group LLC raised its position in Alphabet by 10.6% in the third quarter. Fort Pitt Capital Group LLC now owns 1,060 shares of the information services provider’s stock worth $1,280,000 after purchasing an additional 102 shares in the last quarter. Gryphon Financial Partners LLC raised its position in Alphabet by 763.3% in the third quarter. Gryphon Financial Partners LLC now owns 1,269 shares of the information services provider’s stock worth $1,532,000 after purchasing an additional 1,122 shares in the last quarter. Smithfield Trust Co. raised its position in Alphabet by 13.8% in the third quarter. Smithfield Trust Co. now owns 1,395 shares of the information services provider’s stock worth $1,684,000 after purchasing an additional 169 shares in the last quarter. Finally, Elephas Investment Management Ltd acquired a new position in Alphabet in the third quarter worth about $4,623,000. Institutional investors and hedge funds own 41.25% of the company’s stock.
GOOGL opened at $1,128.63 on Thursday. Alphabet Inc has a one year low of $977.66 and a one year high of $1,291.44. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The company has a market cap of $784.66 billion, a PE ratio of 23.76, a P/E/G ratio of 1.33 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The business had revenue of $31.84 billion for the quarter, compared to analysts’ expectations of $31.28 billion. During the same period in the prior year, the firm earned $9.70 earnings per share. As a group, equities analysts anticipate that Alphabet Inc will post 47.38 EPS for the current fiscal year.
Several research analysts recently issued reports on GOOGL shares. Nomura reissued a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research report on Tuesday, December 4th. ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. MKM Partners dropped their price target on shares of Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a research report on Monday, November 26th. Goldman Sachs Group dropped their price objective on shares of Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Bank of America dropped their price objective on shares of Alphabet from $1,390.00 to $1,350.00 and set a “buy” rating for the company in a report on Friday, October 26th. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $1,320.71.
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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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