Royal Bank of Scotland Group PLC boosted its stake in Alphabet Inc (NASDAQ:GOOGL) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,849 shares of the information services provider’s stock after buying an additional 855 shares during the period. Alphabet accounts for approximately 1.2% of Royal Bank of Scotland Group PLC’s investment portfolio, making the stock its 23rd largest holding. Royal Bank of Scotland Group PLC’s holdings in Alphabet were worth $6,333,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Belvedere Advisors LLC bought a new position in Alphabet during the first quarter valued at about $38,000. Thor Advisors LLC bought a new position in Alphabet during the first quarter valued at about $45,000. Lipe & Dalton bought a new position in Alphabet during the second quarter valued at about $49,000. JJJ Advisors Inc. boosted its stake in Alphabet by 204.8% during the second quarter. JJJ Advisors Inc. now owns 64 shares of the information services provider’s stock valued at $69,000 after buying an additional 43 shares in the last quarter. Finally, Lavaca Capital LLC bought a new position in Alphabet during the fourth quarter valued at about $97,000. 33.94% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on GOOGL shares. DZ Bank reaffirmed a “hold” rating and set a $1,197.00 target price on shares of Alphabet in a research note on Wednesday, May 1st. ValuEngine cut Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Macquarie set a $1,300.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, July 26th. MKM Partners reaffirmed a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research note on Friday, August 2nd. Finally, Canaccord Genuity raised their target price on Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,371.05.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. As a group, sell-side analysts expect that Alphabet Inc will post 51.94 earnings per share for the current fiscal year.
Alphabet Company 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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