Trellus Management Company LLC bought a new stake in Alphabet Inc (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the information services provider’s stock, valued at approximately $1,083,000. Alphabet comprises 1.5% of Trellus Management Company LLC’s portfolio, making the stock its 16th largest position.
Other hedge funds also recently made changes to their positions in the company. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. Belvedere Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $38,000. Thor Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $45,000. Lipe & Dalton bought a new position in shares of Alphabet during the 2nd quarter worth approximately $49,000. Finally, Smart Money Group LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 33.96% of the company’s stock.
A number of equities analysts recently issued reports on the company. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. KeyCorp reiterated an “overweight” rating and issued a $1,516.00 target price (up from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Moffett Nathanson cut their target price on Alphabet from $1,290.00 to $1,250.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Cowen set a $1,500.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Needham & Company LLC set a $1,350.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,371.05.
Alphabet (NASDAQ:GOOGL) 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 consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. As a group, equities analysts anticipate that Alphabet Inc will post 51.94 EPS for the current fiscal year.
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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