Raymond James Trust N.A. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,697 shares of the information services provider’s stock after buying an additional 430 shares during the period. Raymond James Trust N.A.’s holdings in Alphabet were worth $4,830,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. State Street Corp raised its stake in shares of Alphabet by 3.0% in the fourth quarter. State Street Corp now owns 11,804,134 shares of the information services provider’s stock valued at $9,354,187,000 after buying an additional 342,368 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 4,309,629 shares of the information services provider’s stock valued at $3,465,200,000 after buying an additional 213,418 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Alphabet by 3.3% in the third quarter. BlackRock Fund Advisors now owns 3,953,779 shares of the information services provider’s stock worth $3,179,076,000 after buying an additional 124,684 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth about $2,411,505,000. Finally, Franklin Resources Inc. raised its stake in shares of Alphabet by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 1,575,345 shares of the information services provider’s stock worth $1,248,643,000 after buying an additional 16,006 shares in the last quarter. 34.72% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) opened at 958.62 on Friday. The stock’s 50 day moving average price is $967.45 and its 200-day moving average price is $868.27. Alphabet Inc. has a 52 week low of $672.66 and a 52 week high of $1,008.61. The stock has a market capitalization of $663.12 billion, a P/E ratio of 32.39 and a beta of 0.96.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $7.24 by $0.49. The company had revenue of $20.12 billion for the quarter, compared to analysts’ expectations of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same quarter in the previous year, the company posted $7.50 earnings per share. Equities research analysts expect that Alphabet Inc. will post $33.98 earnings per share for the current year.
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GOOGL has been the topic of a number of research analyst reports. Instinet reaffirmed a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research note on Tuesday, April 25th. BMO Capital Markets lowered Alphabet from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $1,005.00 to $880.00 in a research note on Tuesday, April 4th. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research note on Friday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a research note on Monday, March 13th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $1,200.00 price objective (up previously from $1,000.00) on shares of Alphabet in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and forty have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,011.53.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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