Gareth Morgan Investments Limited Partnership Maintains Holdings in Alphabet Inc. (GOOGL)

Gareth Morgan Investments Limited Partnership maintained its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,821 shares of the information services provider’s stock at the close of the first quarter. Gareth Morgan Investments Limited Partnership’s holdings in Alphabet were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of GOOGL. Investec Asset Management LTD increased its position in Alphabet by 62.7% during the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock worth $526,576,000 after purchasing an additional 239,390 shares during the last quarter. Karp Capital Management Corp increased its position in Alphabet by 5,218.2% during the first quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock worth $169,350,000 after purchasing an additional 195,996 shares during the last quarter. State Street Corp increased its position in Alphabet by 1.2% during the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after purchasing an additional 142,214 shares during the last quarter. Boston Partners increased its position in Alphabet by 9.9% during the first quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock worth $823,046,000 after purchasing an additional 87,783 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in Alphabet during the first quarter worth approximately $72,063,000. 33.88% of the stock is owned by hedge funds and other institutional investors.

Alphabet Inc. (GOOGL) traded down 0.08% during trading on Tuesday, reaching $942.50. 501,576 shares of the company’s stock traded hands. The firm’s 50 day moving average is $943.79 and its 200-day moving average is $924.71. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The company has a market capitalization of $653.04 billion, a price-to-earnings ratio of 34.16 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter last year, the company earned $8.42 EPS. Analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

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Several brokerages recently commented on GOOGL. UBS AG reaffirmed a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Monday, May 15th. B. Riley reaffirmed a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Sunday, July 30th. Cowen and Company reaffirmed an “outperform” rating and set a $1,075.00 price target on shares of Alphabet in a research report on Thursday, August 10th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Thursday, September 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,053.45.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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