Brighton Jones LLC Has $5.91 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Brighton Jones LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,420 shares of the information services provider’s stock after purchasing an additional 373 shares during the period. Brighton Jones LLC’s holdings in Alphabet were worth $5,909,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Cohen Investment Advisors LLC boosted its position in Alphabet by 22,787.8% during the first quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock valued at $2,861,000 after purchasing an additional 350,477 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $595,998,000. Parnassus Investments CA lifted its position in shares of Alphabet by 46.7% in the second quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock valued at $1,692,336,000 after buying an additional 220,762 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Alphabet by 16.0% in the first quarter. Jennison Associates LLC now owns 1,436,684 shares of the information services provider’s stock valued at $2,963,189,000 after buying an additional 197,838 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Alphabet by 101.2% in the first quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock valued at $784,586,000 after buying an additional 191,361 shares during the last quarter. 34.43% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on GOOGL shares. Jefferies Financial Group raised their price objective on Alphabet from $2,950.00 to $3,150.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Truist Securities raised their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. BMO Capital Markets raised their price objective on Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Needham & Company LLC lifted their price target on Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Finally, Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating and set a $2,818.00 price target for the company. in a report on Tuesday, June 29th. Three investment analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $2,841.72.

Shares of NASDAQ GOOGL traded down $5.87 during mid-day trading on Wednesday, hitting $2,845.02. 24,804 shares of the stock traded hands, compared to its average volume of 1,521,662. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. Alphabet Inc. has a twelve month low of $1,402.15 and a twelve month high of $2,925.07. The company has a market cap of $1.90 trillion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. The firm has a 50 day simple moving average of $2,721.31 and a two-hundred day simple moving average of $2,428.14.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The company had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. During the same quarter last year, the business posted $10.13 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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