Alphabet Inc. (GOOGL) Holdings Raised by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237 shares of the information services provider’s stock after acquiring an additional 7 shares during the period. Hanson & Doremus Investment Management’s holdings in Alphabet were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan boosted its stake in Alphabet by 2.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,010 shares of the information services provider’s stock valued at $12,095,000 after acquiring an additional 350 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Alphabet by 1.2% during the second quarter. Diamond Hill Capital Management Inc. now owns 466,073 shares of the information services provider’s stock worth $433,299,000 after buying an additional 5,587 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Alphabet by 4.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,047 shares of the information services provider’s stock worth $973,000 after buying an additional 45 shares during the period. Reliance Trust Co. of Delaware lifted its stake in shares of Alphabet by 3.9% during the second quarter. Reliance Trust Co. of Delaware now owns 1,686 shares of the information services provider’s stock worth $1,568,000 after buying an additional 64 shares during the period. Finally, Ferguson Wellman Capital Management Inc. lifted its stake in shares of Alphabet by 0.7% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 51,107 shares of the information services provider’s stock worth $47,513,000 after buying an additional 333 shares during the period. Institutional investors own 33.85% of the company’s stock.

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Several equities research analysts have recently commented on the stock. 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 upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a research note on Tuesday, July 25th. UBS AG reiterated an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned 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 target price of $1,058.31.

Shares of Alphabet Inc. (NASDAQ GOOGL) opened at 987.80 on Wednesday. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61. The company’s 50-day moving average is $951.32 and its 200 day moving average is $940.49. The stock has a market capitalization of $684.43 billion, a P/E ratio of 35.80 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last released its 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). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the business posted $8.42 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

About Alphabet

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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