Alpha Cubed Investments LLC raised its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,713 shares of the information services provider’s stock after acquiring an additional 669 shares during the period. Alphabet makes up approximately 1.6% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 23rd largest position. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $13,766,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of GOOGL. Belvedere Advisors LLC bought a new position in Alphabet during the first quarter worth about $38,000. Thor Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $45,000. Lavaca Capital LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $97,000. Sound Income Strategies LLC boosted its holdings in shares of Alphabet by 71.4% during the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after acquiring an additional 40 shares during the period. Finally, Quantamental Technologies LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $103,000. Institutional investors own 33.47% of the company’s stock.
A number of equities research analysts have recently issued reports on GOOGL shares. Stifel Nicolaus boosted their price objective on Western Digital from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. JMP Securities restated an “outperform” rating and set a $1,375.00 price objective (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, April 30th. ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Wedbush restated a “buy” rating and set a $1,350.00 price objective on shares of Alphabet in a report on Monday. Finally, Argus boosted their price objective on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,318.83.
GOOGL traded up $2.83 during trading on Tuesday, hitting $1,142.04. 44,422 shares of the stock traded hands, compared to its average volume of 1,252,179. The business’s 50 day moving average is $1,106.17. The firm has a market cap of $794.41 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 1.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.93 and a current ratio of 3.96. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.56 by $1.34. The company had revenue of $29.48 billion during the quarter, compared to the consensus estimate of $29.99 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. During the same period in the prior year, the business earned $13.33 earnings per share. On average, analysts forecast that Alphabet Inc will post 48.43 EPS for the current year.
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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