Telos Capital Management Inc. raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,266 shares of the information services provider’s stock after buying an additional 165 shares during the period. Telos Capital Management Inc.’s holdings in Alphabet were worth $3,537,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Belvedere Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $38,000. Thor Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $45,000. Lavaca Capital LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $97,000. Quantamental Technologies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $103,000. Finally, Private Ocean LLC grew its position in shares of Alphabet by 26.7% in the 4th quarter. Private Ocean LLC now owns 114 shares of the information services provider’s stock valued at $119,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 33.93% of the company’s stock.
A number of equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Morgan Stanley upped their price target on Alphabet from $1,400.00 to $1,450.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Argus reiterated a “buy” rating and issued a $1,450.00 price target on shares of Alphabet in a research report on Wednesday, May 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $1,287.00 price target on shares of Alphabet in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC set a $1,350.00 price objective on Alphabet and gave the company a “buy” rating 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 company currently has an average rating of “Buy” and a consensus price target of $1,368.76.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. As a group, sell-side analysts predict that Alphabet Inc will post 51.94 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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