Alphabet Inc (NASDAQ:GOOGL) Stock Position Increased by Bowling Portfolio Management LLC

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Bowling Portfolio Management LLC increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,823 shares of the information services provider’s stock after buying an additional 504 shares during the period. Alphabet accounts for about 2.2% of Bowling Portfolio Management LLC’s holdings, making the stock its 4th largest holding. Bowling Portfolio Management LLC’s holdings in Alphabet were worth $10,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Virtus Alternative Investment Advisers Inc. purchased a new position in Alphabet in the 2nd quarter worth about $45,000. Cedar Mountain Advisors LLC raised its position in Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after buying an additional 7 shares during the last quarter. Watson Rebecca purchased a new position in Alphabet in the 2nd quarter worth about $60,000. Virtus ETF Advisers LLC purchased a new position in Alphabet in the 2nd quarter worth about $84,000. Finally, CVA Family Office LLC purchased a new position in Alphabet in the 1st quarter worth about $70,000. Institutional investors own 33.78% of the company’s stock.

GOOGL has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Alphabet to a “buy” rating in a research report on Monday, July 13th. JMP Securities upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. BMO Capital Markets upped their price target on shares of Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Royal Bank of Canada upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Barclays upped their price target on shares of Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $1,679.91.

Shares of GOOGL traded up $12.23 during mid-day trading on Friday, hitting $1,567.70. 1,710,325 shares of the stock were exchanged, compared to its average volume of 2,093,132. The company has a market cap of $1,066.29 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,726.10. The firm has a 50-day moving average of $1,519.73 and a two-hundred day moving average of $1,433.08. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. On average, sell-side analysts predict that Alphabet Inc will post 44.87 EPS 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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