Patten & Patten Inc. TN increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,422 shares of the information services provider’s stock after buying an additional 446 shares during the period. Patten & Patten Inc. TN’s holdings in Alphabet were worth $7,830,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GOOGL. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet during the second quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet during the first quarter worth $108,000. Delta Asset Management LLC TN boosted its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Farmers National Bank boosted its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. 34.31% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.16% during midday trading on Tuesday, hitting $947.25. 515,744 shares of the company were exchanged. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The stock’s 50-day moving average is $963.05 and its 200-day moving average is $904.34. The stock has a market cap of $656.33 billion, a PE ratio of 34.33 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. The business had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the previous year, the business posted $8.42 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current year.
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A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $1,032.00 price target on shares of Alphabet in a research report on Friday, April 28th. UBS AG reaffirmed a “buy” rating and set a $1,050.00 price target (up from $980.00) on shares of Alphabet in a research report on Saturday, April 29th. Mizuho reaffirmed a “buy” rating and set a $1,220.00 price target on shares of Alphabet in a research report on Monday. Goldman Sachs Group, Inc. (The) decreased their price target on shares of Alphabet from $1,100.00 to $970.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,047.77.
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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