Park Avenue Securities LLC Increases Stake in Alphabet Inc Class A (GOOGL)

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Park Avenue Securities LLC grew its position in shares of Alphabet Inc Class A (NASDAQ:GOOGL) by 20.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,121 shares of the information services provider’s stock after buying an additional 524 shares during the quarter. Alphabet Inc Class A makes up about 0.6% of Park Avenue Securities LLC’s investment portfolio, making the stock its 13th largest holding. Park Avenue Securities LLC’s holdings in Alphabet Inc Class A were worth $3,565,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. HC Financial Advisors Inc. purchased a new stake in Alphabet Inc Class A in the fourth quarter worth about $616,000. Banco de Sabadell S.A purchased a new stake in Alphabet Inc Class A in the fourth quarter worth about $9,258,000. Amussen Hunsaker Associates LLC lifted its holdings in Alphabet Inc Class A by 12.6% in the fourth quarter. Amussen Hunsaker Associates LLC now owns 1,741 shares of the information services provider’s stock worth $1,834,000 after buying an additional 195 shares during the period. Slow Capital Inc. purchased a new stake in Alphabet Inc Class A in the fourth quarter worth about $1,774,000. Finally, WealthPLAN Partners LLC lifted its holdings in Alphabet Inc Class A by 4.9% in the fourth quarter. WealthPLAN Partners LLC now owns 1,576 shares of the information services provider’s stock worth $1,660,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 33.53% of the company’s stock.

NASDAQ:GOOGL opened at $1,120.54 on Friday. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02. Alphabet Inc Class A has a 12 month low of $977.08 and a 12 month high of $1,291.44. The company has a market capitalization of $840.06 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 1.53 and a beta of 1.11.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping analysts’ consensus estimates of $9.51 by $2.24. Alphabet Inc Class A had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $26.24 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the firm posted $5.01 EPS. On average, sell-side analysts forecast that Alphabet Inc Class A will post 42.53 earnings per share for the current year.

GOOGL has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,375.00 target price (up previously from $1,330.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. SunTrust Banks raised their target price on shares of Alphabet Inc Class A to $1,370.00 and gave the company a “buy” rating in a research note on Tuesday, July 24th. Royal Bank of Canada raised their target price on shares of Alphabet Inc Class A to $1,400.00 and gave the company an “outperform” rating in a research note on Tuesday, July 24th. Argus raised their target price on shares of Alphabet Inc Class A to $1,450.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Macquarie reaffirmed a “buy” rating and set a $1,250.00 target price on shares of Alphabet Inc Class A in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-one have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $1,315.01.

Alphabet Inc Class A Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

See Also: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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