Regentatlantic Capital LLC Acquires 2,123 Shares of Alphabet Inc (NASDAQ:GOOGL)

Regentatlantic Capital LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,943 shares of the information services provider’s stock after buying an additional 2,123 shares during the quarter. Alphabet makes up approximately 1.2% of Regentatlantic Capital LLC’s investment portfolio, making the stock its 14th largest position. Regentatlantic Capital LLC’s holdings in Alphabet were worth $18,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thoroughbred Financial Services LLC increased its position in Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares during the period. Fisher Asset Management LLC increased its position in Alphabet by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,322,249 shares of the information services provider’s stock valued at $1,381,697,000 after purchasing an additional 51,160 shares during the period. Packer & Co Ltd increased its position in Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares during the period. Clearbridge Investments LLC increased its position in Alphabet by 3.3% during the 1st quarter. Clearbridge Investments LLC now owns 613,338 shares of the information services provider’s stock valued at $721,831,000 after purchasing an additional 19,842 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Alphabet by 0.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 534,707 shares of the information services provider’s stock valued at $558,747,000 after purchasing an additional 4,472 shares during the period. Institutional investors and hedge funds own 33.94% of the company’s stock.

Several brokerages have recently commented on GOOGL. Cowen set a $1,500.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Mizuho raised their price objective on shares of Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Pivotal Research began coverage on shares of Alphabet in a research report on Wednesday, May 29th. They issued a “hold” rating and a $1,250.00 price target for the company. Finally, ValuEngine downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,371.05.

Shares of NASDAQ GOOGL traded down $35.27 during mid-day trading on Monday, reaching $1,161.05. 61,797 shares of the company’s stock were exchanged, compared to its average volume of 1,701,523. The firm has a market cap of $830.54 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,296.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $1,137.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, analysts expect that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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