Carnegie Capital Asset Management LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,381 shares of the information services provider’s stock after buying an additional 209 shares during the period. Alphabet makes up about 1.5% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Carnegie Capital Asset Management LLC’s holdings in Alphabet were worth $21,316,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in 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 worth $1,297,422,000 after buying an additional 219,626 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $76,173,000. Eagle Asset Management Inc. increased its position in shares of Alphabet by 0.9% during the fourth 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 during the period. Blue Whale Capital LLP bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $9,670,000. Finally, Watchman Group Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,104,000. 34.29% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on GOOGL shares. Oppenheimer restated a “buy” rating and set a $1,445.00 price objective on shares of Alphabet in a research report on Wednesday, April 29th. Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price objective on the stock in a research report on Friday, March 13th. Morgan Stanley boosted their price objective on Alphabet from $1,310.00 to $1,400.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Mizuho boosted their price objective on Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup boosted their price target on Alphabet from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,505.34.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $11.16 by ($1.29). The company had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter in the prior year, the company posted $9.50 EPS. As a group, sell-side analysts predict that Alphabet Inc will post 41.47 earnings per share 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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