Scotia Capital Inc. Increases Position in Alphabet Inc (NASDAQ:GOOGL)

Scotia Capital Inc. increased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,479 shares of the information services provider’s stock after acquiring an additional 2,647 shares during the quarter. Alphabet makes up approximately 0.9% of Scotia Capital Inc.’s holdings, making the stock its 29th biggest holding. Scotia Capital Inc.’s holdings in Alphabet were worth $69,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Belvedere Advisors LLC bought a new stake in Alphabet during the first quarter worth approximately $38,000. Litman Gregory Asset Management LLC bought a new stake in Alphabet during the second quarter worth $37,000. Thor Advisors LLC bought a new position in Alphabet during the 1st quarter valued at $45,000. Lipe & Dalton bought a new stake in shares of Alphabet in the 2nd quarter worth $49,000. Finally, Johnson Financial Group Inc. grew its stake in shares of Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares in the last quarter. 33.81% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. KeyCorp restated an “overweight” rating and set a $1,516.00 price target (up from $1,430.00) on shares of Alphabet in a research report on Friday, July 26th. MKM Partners reiterated a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a research note on Friday, August 2nd. FBN Securities set a $1,400.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on shares of Alphabet to $1,225.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet to $1,425.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $1,373.76.

GOOGL traded up $12.90 during trading on Wednesday, reaching $1,218.60. The company’s stock had a trading volume of 105,763 shares, compared to its average volume of 1,135,148. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $1,189.59 and a two-hundred day simple moving average of $1,165.95. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,296.97. The company has a market cap of $835.73 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. As a group, equities analysts forecast that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Alphabet 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 (NASDAQ:GOOGL)

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