Eos Focused Equity Management L.P. Buys Shares of 2,573 Alphabet Inc (NASDAQ:GOOGL)

Eos Focused Equity Management L.P. purchased a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,573 shares of the information services provider’s stock, valued at approximately $3,649,000. Alphabet accounts for about 4.3% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 5th largest holding.

Other large investors have also modified their holdings of the company. Wintrust Investments LLC increased its stake in Alphabet by 13.3% during the first quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock worth $1,136,000 after purchasing an additional 115 shares during the period. Optimum Investment Advisors increased its stake in Alphabet by 4.1% during the first quarter. Optimum Investment Advisors now owns 538 shares of the information services provider’s stock worth $625,000 after purchasing an additional 21 shares during the period. Harwood Advisory Group LLC increased its stake in shares of Alphabet by 32.1% during the first quarter. Harwood Advisory Group LLC now owns 420 shares of the information services provider’s stock worth $487,000 after buying an additional 102 shares during the period. Old North State Trust LLC increased its stake in shares of Alphabet by 36.1% during the first quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock worth $153,000 after buying an additional 35 shares during the period. Finally, J. L. Bainbridge & Co. Inc. increased its stake in shares of Alphabet by 2.5% during the first quarter. J. L. Bainbridge & Co. Inc. now owns 14,100 shares of the information services provider’s stock worth $16,383,000 after buying an additional 338 shares during the period. Institutional investors own 34.14% of the company’s stock.

Shares of NASDAQ GOOGL opened at $1,487.95 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a fifty day moving average price of $1,473.93 and a 200 day moving average price of $1,375.65. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,587.05. The company has a market cap of $1,050.12 billion, a PE ratio of 32.72, a P/E/G ratio of 2.35 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Analysts anticipate that Alphabet Inc will post 42.07 earnings per share for the current fiscal year.

GOOGL has been the topic of a number of recent research reports. JMP Securities upped their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank of Canada upped their target price on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Friday. Goldman Sachs Group upped their target price on shares of Alphabet from $1,425.00 to $1,775.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Robert W. Baird upped their target price on shares of Alphabet from $1,500.00 to $1,650.00 in a research note on Thursday, June 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $1,800.00 target price on shares of Alphabet in a research note on Friday. Four analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $1,657.51.

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.

See Also: Do investors pay a separate front-end load every time they buy additional shares?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.