Main Street Research LLC Acquires 1,356 Shares of Alphabet Inc (NASDAQ:GOOGL)

Main Street Research LLC raised its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 19.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,406 shares of the information services provider’s stock after acquiring an additional 1,356 shares during the period. Main Street Research LLC’s holdings in Alphabet were worth $11,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Spence Asset Management raised its position in shares of Alphabet by 45.5% during the first quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Alphabet by 26.9% during the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares during the last quarter. OmniStar Financial Group Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $44,000. Center for Financial Planning Inc. raised its position in shares of Alphabet by 35.5% during the first quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after buying an additional 11 shares during the last quarter. Finally, Watson Rebecca acquired a new position in shares of Alphabet during the second quarter valued at about $60,000. Institutional investors own 34.14% of the company’s stock.

A number of brokerages have recently commented on GOOGL. Credit Suisse Group upped their price objective on shares of Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. BMO Capital Markets increased their price target on shares of Alphabet from $1,550.00 to $1,750.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America increased their price target on shares of Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Alphabet from $1,700.00 to $1,760.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Mizuho increased their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a hold rating and forty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,657.51.

GOOGL opened at $1,487.95 on Friday. Alphabet Inc has a one year low of $1,008.87 and a one year high of $1,587.05. 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 company’s 50 day simple moving average is $1,473.93 and its 200-day simple moving average is $1,375.65. The stock has a market capitalization of $1,050.12 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, analysts anticipate that Alphabet Inc will post 42.07 EPS for the current 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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