First Manhattan Co. Buys 8,599 Shares of Alphabet Inc Class A (GOOGL)

First Manhattan Co. boosted its stake in Alphabet Inc Class A (NASDAQ:GOOGL) by 10.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,391 shares of the information services provider’s stock after buying an additional 8,599 shares during the quarter. First Manhattan Co.’s holdings in Alphabet Inc Class A were worth $100,939,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of GOOGL. BlackRock Inc. lifted its stake in shares of Alphabet Inc Class A by 1.5% during the 1st quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock worth $19,428,946,000 after purchasing an additional 269,848 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Alphabet Inc Class A by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock worth $17,939,000 after purchasing an additional 17,925,496 shares during the period. American Century Companies Inc. lifted its stake in shares of Alphabet Inc Class A by 1.0% during the 1st quarter. American Century Companies Inc. now owns 2,266,027 shares of the information services provider’s stock worth $2,350,187,000 after purchasing an additional 23,524 shares during the period. Cornerstone Wealth Management LLC lifted its stake in shares of Alphabet Inc Class A by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock worth $1,216,000 after purchasing an additional 1,387,599 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in shares of Alphabet Inc Class A by 78.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock worth $1,362,458,000 after purchasing an additional 575,882 shares during the period. 33.53% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on GOOGL. BMO Capital Markets increased their price target on Alphabet Inc Class A from $1,100.00 to $1,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. B. Riley reissued a “buy” rating on shares of Alphabet Inc Class A in a research note on Monday, July 16th. Monness Crespi & Hardt upped their price objective on Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. KeyCorp restated an “overweight” rating and set a $1,430.00 price objective (up from $1,230.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. Finally, Mizuho restated a “positive” rating and set a $1,460.00 price objective on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $1,316.01.

Shares of NASDAQ GOOGL opened at $1,097.91 on Friday. Alphabet Inc Class A has a 12-month low of $977.08 and a 12-month high of $1,291.44. The firm has a market capitalization of $840.06 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.51 by $2.24. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. The firm had revenue of $26.24 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the prior year, the firm earned $5.01 EPS. On average, analysts forecast that Alphabet Inc Class A will post 42.53 earnings per share for the current year.

About Alphabet Inc Class A

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 Inc Class A (NASDAQ:GOOGL)

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