PHH Investments Ltd. Takes Position in Alphabet Inc. (GOOGL)

PHH Investments Ltd. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,231 shares of the information services provider’s stock, valued at approximately $1,144,000.

Several other hedge funds also recently made changes to their positions in GOOGL. State of Alaska Department of Revenue purchased a new stake in shares of Alphabet in the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $108,000. Parkside Financial Bank & Trust boosted its stake in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after buying an additional 36 shares in the last quarter. Farmers National Bank boosted its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares in the last quarter. Institutional investors own 33.81% of the company’s stock.

GOOGL has been the subject of several research reports. B. Riley reaffirmed a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a report on Sunday, July 30th. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a report on Thursday, August 10th. UBS AG reaffirmed a “buy” rating and set a $1,080.00 price objective (up from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average target price of $1,088.53.

Shares of Alphabet Inc. (GOOGL) opened at $1,041.64 on Wednesday. Alphabet Inc. has a 1 year low of $753.36 and a 1 year high of $1,063.62. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $723,426.81, a PE ratio of 34.86, a PEG ratio of 1.76 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same quarter in the prior year, the business earned $9.06 earnings per share. research analysts expect that Alphabet Inc. will post 32.15 EPS for the current fiscal year.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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