Alphabet Inc (NASDAQ:GOOGL) Stock Position Increased by SlateStone Wealth LLC

SlateStone Wealth LLC lifted its position in Alphabet Inc (NASDAQ:GOOGL) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,939 shares of the information services provider’s stock after buying an additional 60 shares during the period. Alphabet makes up 1.8% of SlateStone Wealth LLC’s holdings, making the stock its 11th largest position. SlateStone Wealth LLC’s holdings in Alphabet were worth $6,431,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canal Capital Management LLC raised its holdings in Alphabet by 0.8% in the 4th quarter. Canal Capital Management LLC now owns 1,172 shares of the information services provider’s stock valued at $1,225,000 after acquiring an additional 9 shares in the last quarter. Shufro Rose & Co. LLC grew its stake in shares of Alphabet by 2.4% during the fourth quarter. Shufro Rose & Co. LLC now owns 434 shares of the information services provider’s stock worth $454,000 after buying an additional 10 shares during the last quarter. South Texas Money Management Ltd. grew its stake in shares of Alphabet by 3.1% during the fourth quarter. South Texas Money Management Ltd. now owns 329 shares of the information services provider’s stock worth $344,000 after buying an additional 10 shares during the last quarter. Thomasville National Bank grew its stake in shares of Alphabet by 5.0% during the second quarter. Thomasville National Bank now owns 212 shares of the information services provider’s stock worth $230,000 after buying an additional 10 shares during the last quarter. Finally, Curbstone Financial Management Corp grew its stake in shares of Alphabet by 1.6% during the second quarter. Curbstone Financial Management Corp now owns 634 shares of the information services provider’s stock worth $686,000 after buying an additional 10 shares during the last quarter. 34.09% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on GOOGL shares. Argus reaffirmed a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research note on Wednesday, May 1st. FBN Securities set a $1,400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Raymond James set a $1,360.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Loop Capital started coverage on shares of Alphabet in a research note on Monday, June 3rd. They set 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 given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,371.05.

GOOGL stock traded up $1.65 during midday trading on Friday, hitting $1,193.17. The stock had a trading volume of 23,955 shares, compared to its average volume of 1,833,068. The firm has a market cap of $820.66 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The business has a fifty day moving average price of $1,171.19 and a two-hundred day moving average price of $1,159.68.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. On average, equities analysts anticipate that Alphabet Inc will post 51.94 EPS for the current 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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