Neuberger Berman Group LLC Grows Position in Alphabet Inc (NASDAQ:GOOGL)

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Neuberger Berman Group LLC raised its position in Alphabet Inc (NASDAQ:GOOGL) by 0.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 486,094 shares of the information services provider’s stock after acquiring an additional 138 shares during the period. Alphabet comprises 0.9% of Neuberger Berman Group LLC’s portfolio, making the stock its 9th biggest position. Neuberger Berman Group LLC owned about 0.07% of Alphabet worth $688,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New England Research & Management Inc. increased its holdings in shares of Alphabet by 7.9% during the 1st quarter. New England Research & Management Inc. now owns 1,023 shares of the information services provider’s stock worth $1,189,000 after acquiring an additional 75 shares during the last quarter. Zebra Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $240,000. SCP Investment LP increased its holdings in shares of Alphabet by 25.0% during the 1st quarter. SCP Investment LP now owns 10,000 shares of the information services provider’s stock worth $11,620,000 after acquiring an additional 2,000 shares during the last quarter. Trustcore Financial Services LLC increased its holdings in shares of Alphabet by 6.0% during the 1st quarter. Trustcore Financial Services LLC now owns 965 shares of the information services provider’s stock worth $1,121,000 after acquiring an additional 55 shares during the last quarter. Finally, Palisades Hudson Asset Management L.P. increased its holdings in shares of Alphabet by 9.0% during the 1st quarter. Palisades Hudson Asset Management L.P. now owns 374 shares of the information services provider’s stock worth $435,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.

A number of research analysts have commented on the company. Royal Bank of Canada upped their price objective on Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Monness Crespi & Hardt upped their price objective on Alphabet from $1,420.00 to $1,700.00 and gave the company a “buy” rating in a report on Friday, July 31st. KeyCorp assumed coverage on Alphabet in a report on Monday. They issued an “overweight” rating and a $1,955.00 price objective on the stock. MKM Partners upped their price objective on Alphabet from $1,500.00 to $1,700.00 in a report on Monday, July 27th. Finally, Jefferies Financial Group raised Alphabet to a “buy” rating in a report on Monday, July 13th. Four analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,666.49.

Shares of GOOGL stock traded up $31.16 during trading hours on Tuesday, reaching $1,539.99. The company had a trading volume of 64,460 shares, compared to its average volume of 2,138,198. The business has a fifty day simple moving average of $1,548.42 and a 200-day simple moving average of $1,393.09. The company has a market cap of $1,026.25 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07. Alphabet Inc has a 12 month low of $1,008.87 and a 12 month high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. On average, equities research analysts expect that Alphabet Inc will post 44.74 earnings per share for the current year.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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