Demars Financial Group LLC Acquires 206 Shares of Alphabet Inc (NASDAQ:GOOGL)

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Demars Financial Group LLC grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 38.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738 shares of the information services provider’s stock after buying an additional 206 shares during the quarter. Demars Financial Group LLC’s holdings in Alphabet were worth $1,047,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GOOGL. Wintrust Investments LLC increased its stake in shares of Alphabet by 13.3% during the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock worth $1,136,000 after purchasing an additional 115 shares during the last quarter. Lido Advisors LLC grew its stake in Alphabet by 4.1% in the 2nd quarter. Lido Advisors LLC now owns 10,045 shares of the information services provider’s stock valued at $14,245,000 after buying an additional 395 shares during the last quarter. Old North State Trust LLC grew its stake in Alphabet by 36.1% in the 1st quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock valued at $153,000 after buying an additional 35 shares during the last quarter. AE Wealth Management LLC grew its stake in Alphabet by 78.3% in the 2nd quarter. AE Wealth Management LLC now owns 12,543 shares of the information services provider’s stock valued at $17,786,000 after buying an additional 5,507 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. grew its stake in Alphabet by 2.5% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 14,100 shares of the information services provider’s stock valued at $16,383,000 after buying an additional 338 shares during the last quarter. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOGL traded down $23.03 during trading hours on Wednesday, hitting $1,512.09. 1,106,379 shares of the stock were exchanged, compared to its average volume of 2,126,917. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week 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. The business has a 50-day moving average of $1,548.55 and a 200-day moving average of $1,394.28. The firm has a market capitalization of $1,028.47 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current fiscal year.

GOOGL has been the topic of a number of research reports. Pivotal Research upped their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BofA Securities boosted their price objective on shares of Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a report on Friday, July 31st. Tigress Financial reissued a “buy” rating on shares of Alphabet in a report on Tuesday, August 25th. Credit Suisse Group boosted their price objective on shares of Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and boosted their price objective for the company from $1,550.00 to $1,600.00 in a report on Friday, July 31st. Four equities research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $1,666.49.

Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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