HighPoint Advisor Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,634 shares of the company’s stock after buying an additional 188 shares during the period. HighPoint Advisor Group LLC’s holdings in Alphabet were worth $1,444,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Alphabet by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the company’s stock worth $2,881,806,000 after buying an additional 14,001 shares during the last quarter. CIBC World Markets Inc. boosted its position in shares of Alphabet by 33.9% in the third quarter. CIBC World Markets Inc. now owns 43,753 shares of the company’s stock worth $35,180,000 after buying an additional 11,065 shares during the last quarter. Nwam LLC boosted its position in shares of Alphabet by 6.5% in the third quarter. Nwam LLC now owns 1,710 shares of the company’s stock worth $1,375,000 after buying an additional 104 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Alphabet by 1.4% in the third quarter. Nationwide Fund Advisors now owns 293,906 shares of the company’s stock worth $236,318,000 after buying an additional 3,966 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Alphabet by 4.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 31,552 shares of the company’s stock worth $22,198,000 after buying an additional 1,348 shares during the last quarter. 34.98% of the stock is owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) opened at 840.03 on Wednesday. The stock has a 50 day moving average price of $826.27 and a 200-day moving average price of $806.58. Alphabet Inc. has a one year low of $672.66 and a one year high of $867.00. The firm has a market capitalization of $580.81 billion, a PE ratio of 30.13 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing analysts’ consensus estimates of $9.64 by $0.28. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same period last year, the company posted $8.67 EPS. On average, equities analysts forecast that Alphabet Inc. will post $33.36 earnings per share for the current year.
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A number of analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $990.00 target price on shares of Alphabet in a research report on Wednesday, February 1st. Canaccord Genuity lowered their price objective on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a report on Thursday, December 1st. Aegis assumed coverage on Alphabet in a report on Wednesday, December 21st. They issued a “buy” rating and a $980.00 price objective for the company. Robert W. Baird reaffirmed an “outperform” rating and set a $960.00 target price on shares of Alphabet in a report on Thursday, February 9th. Finally, Argus reaffirmed a “buy” rating and set a $950.00 target price on shares of Alphabet in a report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, forty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $967.75.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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