Watch Point Trust Co Increases Stock Position in Alphabet Inc (NASDAQ:GOOGL)

Watch Point Trust Co increased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 38.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,703 shares of the information services provider’s stock after buying an additional 749 shares during the period. Watch Point Trust Co’s holdings in Alphabet were worth $2,926,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Newman Dignan & Sheerar Inc. boosted its stake in Alphabet by 0.7% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 3,306 shares of the information services provider’s stock valued at $3,455,000 after purchasing an additional 23 shares during the last quarter. Selz Capital LLC acquired a new position in Alphabet during the 4th quarter valued at about $15,360,000. Cambiar Investors LLC boosted its stake in Alphabet by 1.9% during the 4th quarter. Cambiar Investors LLC now owns 53,535 shares of the information services provider’s stock valued at $55,942,000 after purchasing an additional 999 shares during the last quarter. Trust Co. of Toledo NA OH boosted its stake in Alphabet by 2.6% during the 4th quarter. Trust Co. of Toledo NA OH now owns 2,930 shares of the information services provider’s stock valued at $3,062,000 after purchasing an additional 73 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in Alphabet by 3.0% during the 4th quarter. Calamos Advisors LLC now owns 267,852 shares of the information services provider’s stock valued at $279,895,000 after purchasing an additional 7,804 shares during the last quarter. 33.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:GOOGL traded up $9.89 during mid-day trading on Friday, reaching $1,179.21. The company had a trading volume of 1,245,800 shares, compared to its average volume of 1,840,052. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The firm has a market cap of $810.80 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.29 and a beta of 0.97. The company’s 50-day moving average price is $1,159.77 and its 200-day moving average price is $1,158.17. Alphabet Inc has a one year low of $977.66 and a one year high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 23.43% and a return on equity of 20.15%. On average, research analysts anticipate that Alphabet Inc will post 51.94 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Credit Suisse Group boosted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. DZ Bank restated a “hold” rating and issued a $1,197.00 target price on shares of Alphabet in a research note on Wednesday, May 1st. Jefferies Financial Group boosted their target price on Alphabet from $1,450.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Nomura restated a “buy” rating and issued a $1,400.00 target price (up previously from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, Pivotal Research assumed coverage on Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating and a $1,250.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,371.05.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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