Carnegie Capital Asset Management LLC boosted its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,182 shares of the information services provider’s stock after buying an additional 176 shares during the period. Alphabet makes up approximately 1.3% of Carnegie Capital Asset Management LLC’s holdings, making the stock its 16th largest holding. Carnegie Capital Asset Management LLC’s holdings in Alphabet were worth $10,594,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Portland Hill Asset Management Ltd purchased a new position in shares of Alphabet during the second quarter valued at $21,126,000. Cutler Investment Counsel LLC bought a new stake in Alphabet during the second quarter valued at about $213,000. Bayesian Capital Management LP bought a new stake in Alphabet during the second quarter valued at about $2,138,000. Numeric Investors LLC boosted its position in Alphabet by 166.9% during the second quarter. Numeric Investors LLC now owns 177,920 shares of the information services provider’s stock valued at $165,409,000 after purchasing an additional 111,253 shares in the last quarter. Finally, Zacks Investment Management boosted its position in Alphabet by 1.3% during the second quarter. Zacks Investment Management now owns 23,492 shares of the information services provider’s stock valued at $21,840,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.
Shares of Alphabet Inc (NASDAQ GOOGL) opened at $1,049.38 on Monday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1-year low of $789.62 and a 1-year high of $1,080.00. The firm has a market capitalization of $724,800.00, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90.
A number of brokerages recently weighed in on GOOGL. UBS reaffirmed an “overweight” rating on shares of Alphabet in a research report on Thursday, August 24th. Stifel Nicolaus raised their price target on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Bank of America reissued a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. Robert W. Baird reissued an “outperform” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $1,150.00 price target on shares of Alphabet in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,089.17.
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Alphabet Company 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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