Scharf Investments LLC Makes New $230,000 Investment in Alphabet Inc (NASDAQ:GOOGL)

Scharf Investments LLC bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the second quarter, Holdings Channel reports. The institutional investor bought 212 shares of the information services provider’s stock, valued at approximately $230,000.

Several other large investors have also modified their holdings of the business. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet during the second quarter worth about $37,000. Belvedere Advisors LLC bought a new position in shares of Alphabet during the first quarter worth about $38,000. Thor Advisors LLC bought a new position in shares of Alphabet during the first quarter worth about $45,000. Lipe & Dalton bought a new position in shares of Alphabet during the second quarter worth about $49,000. Finally, Johnson Financial Group Inc. grew its position in shares of Alphabet by 26.3% during the second 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 during the last quarter. 33.81% of the stock is currently owned by institutional investors.

Shares of NASDAQ:GOOGL traded up $0.66 during trading hours on Friday, hitting $1,235.63. 89,969 shares of the company’s stock traded hands, compared to its average volume of 1,133,439. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,296.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The company’s fifty day simple moving average is $1,191.17 and its two-hundred day simple moving average is $1,166.46. The company has a market cap of $836.03 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.



Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. On average, analysts anticipate that Alphabet Inc will post 51.29 EPS for the current fiscal year.

Several research firms have recently commented on GOOGL. Pivotal Research began coverage on shares of Alphabet in a research report on Wednesday, May 29th. They set a “hold” rating and a $1,250.00 price target for the company. Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Loop Capital began coverage on shares of Alphabet in a research report on Monday, June 3rd. They set a “hold” rating and a $1,250.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus restated a “hold” rating and set a $1,287.00 price target on shares of Alphabet in a research report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,373.76.

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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