Pacer Advisors Inc. raised its stake in Alphabet Inc (NASDAQ:GOOGL) by 112.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 45,984 shares of the information services provider’s stock after purchasing an additional 24,372 shares during the quarter. Alphabet accounts for 1.3% of Pacer Advisors Inc.’s portfolio, making the stock its 9th biggest position. Pacer Advisors Inc.’s holdings in Alphabet were worth $65,208,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in GOOGL. Spence Asset Management raised its holdings 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 acquiring an additional 10 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings 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 acquiring an additional 7 shares in the last quarter. OmniStar Financial Group Inc. bought a new position in shares of Alphabet during the first quarter valued at approximately $44,000. Center for Financial Planning Inc. raised its holdings 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 acquiring an additional 11 shares in the last quarter. Finally, Watson Rebecca bought a new position in shares of Alphabet during the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 34.14% of the company’s stock.
GOOGL stock opened at $1,487.95 on Friday. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,587.05. The business’s 50-day moving average is $1,473.93 and its two-hundred day moving average is $1,375.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $1,050.12 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.35 and a beta of 1.06.
A number of equities analysts recently commented on GOOGL shares. BMO Capital Markets upped their target price on Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $1,750.00 price target (up from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating and set a $1,616.00 price target on the stock in a research note on Monday, July 13th. Finally, Nomura Instinet upped their price target on Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. Alphabet has a consensus rating of “Buy” and an average price target of $1,657.51.
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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