MML Investors Services LLC raised its stake in Alphabet Inc (NASDAQ:GOOG) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,921 shares of the information services provider’s stock after acquiring an additional 851 shares during the quarter. MML Investors Services LLC’s holdings in Alphabet were worth $18,291,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the business. 1 North Wealth Services LLC bought a new position in Alphabet in the fourth quarter valued at about $34,000. HMS Capital Management LLC bought a new stake in shares of Alphabet during the second quarter worth about $38,000. TD Capital Management LLC lifted its stake in Alphabet by 38.5% during the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 10 shares in the last quarter. Truehand Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Finally, Thor Advisors LLC bought a new position in Alphabet during the first quarter valued at about $56,000. Hedge funds and other institutional investors own 33.97% of the company’s stock.
Several research analysts have commented on the stock. Wedbush raised their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Cowen boosted their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $1,360.00 target price (up previously from $1,315.00) on shares of Alphabet in a research report on Friday, July 26th. BidaskClub cut Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective on the stock in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,378.93.
Shares of GOOG stock traded up $10.69 during trading hours on Wednesday, hitting $1,216.69. 532,164 shares of the company were exchanged, compared to its average volume of 1,141,149. The business’s 50-day simple moving average is $1,188.32 and its two-hundred day simple moving average is $1,162.76. Alphabet Inc has a one year low of $970.11 and a one year high of $1,289.27. The stock has a market capitalization of $835.13 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.39 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Alphabet’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.75 EPS. As a group, analysts anticipate that Alphabet Inc will post 52.37 EPS for the current fiscal year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
Further Reading: Net Asset Value
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