Element Pointe Advisors LLC Has $3.50 Million Position in Alphabet Inc (NASDAQ:GOOGL)

Element Pointe Advisors LLC boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 474.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,012 shares of the information services provider’s stock after buying an additional 2,488 shares during the period. Alphabet comprises 2.1% of Element Pointe Advisors LLC’s portfolio, making the stock its 11th largest holding. Element Pointe Advisors LLC’s holdings in Alphabet were worth $3,499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Alphabet by 29.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock valued at $1,297,422,000 after purchasing an additional 219,626 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Alphabet in the 4th quarter valued at $76,173,000. Eagle Asset Management Inc. boosted its stake in shares of Alphabet by 0.9% in the 4th quarter. Eagle Asset Management Inc. now owns 6,805 shares of the information services provider’s stock valued at $9,114,000 after purchasing an additional 63 shares in the last quarter. Blue Whale Capital LLP acquired a new stake in shares of Alphabet in the 4th quarter valued at $9,670,000. Finally, Watchman Group Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at $2,104,000. Hedge funds and other institutional investors own 35.07% of the company’s stock.

NASDAQ:GOOGL opened at $1,322.90 on Tuesday. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,530.74. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $1,194.10 and a two-hundred day moving average price of $1,320.16. The company has a market cap of $905.37 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. During the same period last year, the company earned $9.50 EPS. As a group, analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.

Several brokerages have recently commented on GOOGL. BMO Capital Markets restated an “outperform” rating and issued a $1,550.00 target price (up previously from $1,400.00) on shares of Alphabet in a research note on Wednesday, April 29th. Pivotal Research reduced their price target on shares of Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Evercore ISI reiterated a “positive” rating and set a $1,600.00 price target (up previously from $1,350.00) on shares of Alphabet in a research report on Monday, January 13th. Societe Generale reduced their price target on shares of Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their price target on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1,505.23.

Alphabet 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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