USS Investment Management Ltd lifted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,752 shares of the information services provider’s stock after purchasing an additional 686 shares during the quarter. USS Investment Management Ltd’s holdings in Alphabet were worth $13,800,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lodestar Investment Counsel LLC IL lifted its position in Alphabet by 0.8% in the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock valued at $4,923,000 after purchasing an additional 34 shares during the last quarter. Shellback Capital LP acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $6,270,000. Exane Derivatives increased its stake in shares of Alphabet by 49.3% in the fourth quarter. Exane Derivatives now owns 790 shares of the information services provider’s stock valued at $825,000 after purchasing an additional 261 shares during the period. J.P. Marvel Investment Advisors LLC increased its stake in shares of Alphabet by 1.5% in the first quarter. J.P. Marvel Investment Advisors LLC now owns 10,258 shares of the information services provider’s stock valued at $12,073,000 after purchasing an additional 155 shares during the period. Finally, OTA Financial Group L.P. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $38,962,000. 33.93% of the stock is currently owned by institutional investors and hedge funds.
Alphabet stock traded down $13.03 during trading hours on Friday, reaching $1,198.75. 52,691 shares of the stock were exchanged, compared to its average volume of 1,563,445. The company has a market cap of $852.53 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The stock has a 50 day moving average price of $1,134.98.
Several brokerages have recently weighed in on GOOGL. Oppenheimer set a $1,370.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Susquehanna Bancshares increased their price objective on shares of Alphabet to $1,550.00 in a research report on Friday, July 26th. Nomura reissued a “buy” rating and issued a $1,400.00 price objective (up from $1,300.00) on shares of Alphabet in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, SunTrust Banks restated a “buy” rating and issued a $1,325.00 price target on shares of Alphabet in a research note on Monday, July 22nd. Eight investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $1,368.76.
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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