Brightworth boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 435 shares of the information services provider’s stock after buying an additional 22 shares during the period. Alphabet accounts for about 0.2% of Brightworth’s investment portfolio, making the stock its 19th largest position. Brightworth’s holdings in Alphabet were worth $369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. increased its position in Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the last quarter. Cordasco Financial Network increased its stake in shares of Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock valued at $199,000 after buying an additional 5 shares in the last quarter. First Command Financial Services Inc. increased its stake in shares of Alphabet by 56.1% in the first quarter. First Command Financial Services Inc. now owns 242 shares of the information services provider’s stock valued at $205,000 after buying an additional 87 shares in the last quarter. American Economic Planning Group Inc. ADV purchased a new stake in shares of Alphabet during the first quarter valued at $222,000. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at $228,000. Hedge funds and other institutional investors own 34.36% of the company’s stock.
Shares of Alphabet Inc. (GOOGL) traded up 0.61% during midday trading on Friday, hitting $958.33. 1,813,794 shares of the stock traded hands. The company has a market capitalization of $664.01 billion, a P/E ratio of 34.73 and a beta of 1.00. The stock has a 50 day moving average of $964.19 and a 200 day moving average of $901.58. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the company earned $8.42 EPS. Equities research analysts predict that Alphabet Inc. will post $30.63 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Wedbush reaffirmed an “underperform” rating and issued a $725.00 price objective (up previously from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. J P Morgan Chase & Co lifted their price objective on shares of Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research note on Saturday, July 22nd. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective on the stock in a research note on Tuesday. Aegis reiterated a “buy” rating and issued a $1,011.00 target price on shares of Alphabet in a report on Sunday, April 2nd. Finally, Canaccord Genuity cut shares of Alphabet from a “buy” rating to a “hold” rating and raised their target price for the stock from $967.93 to $1,000.00 in a report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,042.37.
Alphabet Company Profile
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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