CMH Wealth Management LLC Has $5.94 Million Stake in Alphabet Inc (NASDAQ:GOOGL)

CMH Wealth Management LLC boosted its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 30.1% in the third quarter, Holdings Channel reports. The institutional investor owned 4,867 shares of the information services provider’s stock after purchasing an additional 1,125 shares during the period. Alphabet accounts for approximately 3.4% of CMH Wealth Management LLC’s portfolio, making the stock its 6th biggest position. CMH Wealth Management LLC’s holdings in Alphabet were worth $5,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GOOGL. Lodestar Investment Counsel LLC IL increased its holdings in shares of Alphabet by 0.8% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after purchasing an additional 34 shares in the last quarter. Essex Financial Services Inc. increased its holdings in shares of Alphabet by 4.1% in the 2nd quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock worth $4,446,000 after purchasing an additional 160 shares in the last quarter. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Alphabet by 2.7% in the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock worth $4,009,000 after purchasing an additional 87 shares in the last quarter. Carlson Capital L P increased its holdings in shares of Alphabet by 19.2% in the 2nd quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock worth $26,447,000 after purchasing an additional 3,935 shares in the last quarter. Finally, Shellback Capital LP bought a new stake in shares of Alphabet in the 4th quarter worth $6,270,000. 33.50% of the stock is owned by institutional investors.

GOOGL has been the subject of a number of research analyst reports. Wedbush lifted their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Susquehanna Bancshares lifted their price objective on Alphabet to $1,550.00 in a report on Friday, July 26th. Morgan Stanley lifted their price objective on Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Bank of America set a $1,450.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,375.78.

NASDAQ GOOGL traded up $6.24 on Friday, hitting $1,215.71. 1,117,913 shares of the company traded hands, compared to its average volume of 1,311,059. The company has a market capitalization of $842.22 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.40 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $1,206.08 and its 200-day moving average price is $1,174.07. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, sell-side analysts predict that Alphabet Inc will post 51.29 earnings per share for the current year.

About Alphabet

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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