Alphabet Inc Class A (GOOGL) Position Boosted by Fagan Associates Inc.

Fagan Associates Inc. increased its position in shares of Alphabet Inc Class A (NASDAQ:GOOGL) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,649 shares of the information services provider’s stock after purchasing an additional 704 shares during the quarter. Alphabet Inc Class A accounts for about 4.9% of Fagan Associates Inc.’s investment portfolio, making the stock its 2nd largest holding. Fagan Associates Inc.’s holdings in Alphabet Inc Class A were worth $10,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Alphabet Inc Class A by 1.5% in the first quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock worth $19,428,946,000 after buying an additional 269,848 shares during the period. Summit Trail Advisors LLC increased its position in Alphabet Inc Class A by 134,676.9% in the first quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock worth $17,939,000 after buying an additional 17,925,496 shares during the period. Jennison Associates LLC increased its position in Alphabet Inc Class A by 10.1% in the second quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock worth $1,965,840,000 after buying an additional 159,959 shares during the period. Cornerstone Wealth Management LLC increased its position in Alphabet Inc Class A by 115,058.0% in the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock worth $1,216,000 after buying an additional 1,387,599 shares during the period. Finally, OppenheimerFunds Inc. increased its position in Alphabet Inc Class A by 78.1% in the first quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock worth $1,362,458,000 after buying an additional 575,882 shares during the period. Hedge funds and other institutional investors own 33.46% of the company’s stock.

Several brokerages have weighed in on GOOGL. JMP Securities reaffirmed a “market outperform” rating and issued a $1,375.00 target price (down from $1,390.00) on shares of Alphabet Inc Class A in a research report on Friday. Canaccord Genuity reissued a “hold” rating and set a $1,140.00 price target (down from $1,170.00) on shares of Alphabet Inc Class A in a report on Friday, October 26th. Goldman Sachs Group lowered their price target on Alphabet Inc Class A from $1,500.00 to $1,300.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Barclays lowered their price target on Alphabet Inc Class A from $1,415.00 to $1,400.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. Finally, Bank of America lowered their price target on Alphabet Inc Class A from $1,390.00 to $1,350.00 and set a “buy” rating on the stock in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $1,333.76.

Shares of GOOGL stock opened at $1,071.49 on Friday. Alphabet Inc Class A has a fifty-two week low of $984.00 and a fifty-two week high of $1,291.44. The stock has a market cap of $745.70 billion, a P/E ratio of 33.43, a PEG ratio of 1.31 and a beta of 1.06. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

Alphabet Inc Class A (NASDAQ:GOOGL) last announced its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.54 by $2.52. Alphabet Inc Class A had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. As a group, sell-side analysts predict that Alphabet Inc Class A will post 45.24 EPS for the current fiscal year.

Alphabet Inc Class A Company Profile

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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