Community Bank N.A. boosted its stake in Alphabet Inc (NASDAQ:GOOGL) by 18.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,351 shares of the information services provider’s stock after acquiring an additional 212 shares during the quarter. Community Bank N.A.’s holdings in Alphabet were worth $1,916,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Spence Asset Management boosted its stake in shares of Alphabet by 45.5% during the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares during the last quarter. OmniStar Financial Group Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $44,000. Cedar Mountain Advisors LLC boosted its stake in shares of Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Alphabet by 35.5% during the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after buying an additional 11 shares during the last quarter. Finally, Danda Trouve Investment Management Inc. boosted its stake in shares of Alphabet by 42.9% during the 1st quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock valued at $58,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 34.14% of the company’s stock.
Shares of GOOGL traded down $50.42 during trading hours on Friday, reaching $1,487.95. 4,576,382 shares of the company’s stock traded hands, compared to its average volume of 1,580,507. The firm has a market capitalization of $1,015.70 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,587.05. The business’s fifty day simple moving average is $1,473.93 and its two-hundred day simple moving average is $1,375.65.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. On average, equities research analysts expect that Alphabet Inc will post 42.07 EPS for the current year.
GOOGL has been the subject of several research analyst reports. Atlantic Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Alphabet in a research note on Wednesday, April 29th. BofA Securities increased their target price on Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a research note on Friday. Credit Suisse Group raised their price objective on Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Needham & Company LLC restated a “buy” rating and set a $1,800.00 price objective on shares of Alphabet in a research note on Friday. Finally, Goldman Sachs Group raised their price objective on Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and forty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,657.51.
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.
Featured Story: Balanced Fund
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).
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.