IMS Capital Management increased its stake in shares of Alphabet Inc. (NASDAQ: GOOGL – Get Rating) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 432 shares of the information services provider’s stock after buying an additional 48 shares during the quarter. IMS Capital Management’s holdings in Alphabet were worth $ 1,202,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in Alphabet by 1.2% in the second quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock valued at $ 7,854,059,000 after purchasing an additional 39,437 shares during the last quarter. New World Advisors LLC boosted its stake in shares of Alphabet by 7.5% during the 3rd quarter. New World Advisors LLC now owns 428 shares of the information services provider’s stock worth $ 1,178,000 after acquiring an additional 30 shares in the last quarter. EagleClaw Capital Managment LLC boosted its stake in shares of Alphabet by 1.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 1,209 shares of the information services provider’s stock worth $ 3,232,000 after acquiring an additional 13 shares in the last quarter. Balyasny Asset Management LLC raised its position in shares of Alphabet by 254.8% during the 3rd quarter. Balyasny Asset Management LLC now owns 42,610 shares of the information services provider’s stock worth $ 113,919,000 after purchasing an additional 30,600 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $ 145,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director John L. Hennessy sold 33 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $ 2,348.39, for a total value of $ 77,496.87. Following the completion of the sale, the director now directly owns 78 shares of the company stock, valued at $ 183,174.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the business’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $ 11.16, for a total transaction of $ 6,073,818.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,357 shares of company stock valued at $ 21,855,978. Insiders own 11.44% of the company stock.
Several research firms recently weighed in on GOOGL. Tigress Financial upped their price target on shares of Alphabet from $ 3,540.00 to $ 3,670.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 18th. Canaccord Genuity Group reduced their price target on Alphabet shares from $ 3,500.00 to $ 3,300.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Guggenheim reduced their price target on shares of Alphabet from $ 3,350.00 to $ 3,000.00 in a research report on Wednesday, April 27th. Rosenblatt Securities began coverage on shares of Alphabet in a report on Tuesday, April 19th. They issued a “buy” rating and a $ 4,183.00 objective price for the company. Finally, Stifel Nicolaus cut their price objective on shares of Alphabet from $ 3,500.00 to $ 3,100.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $ 3,297.86.
NASDAQ: GOOGL opened at $ 2,142.87 on Tuesday. The company has a fifty day simple moving average of $ 2,314.28 and a two-hundred day simple moving average of $ 2,603.59. The company has a market cap of $ 1.41 trillion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $ 2,037.69 and a 52 week high of $ 3,030.93.
Alphabet shares are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOGL – Get Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $ 24.62 EPS for the quarter, missing analysts’ consensus estimates of $ 25.70 by ($ 1.08). The firm had revenue of $ 56.02 billion for the quarter, compared to analyst estimates of $ 56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the previous year, the firm posted $ 26.29 EPS. On average, analysts expect that Alphabet Inc. will post 111.86 EPS for the current year.
About Alphabet: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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