Coastal Investment Advisors Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

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Coastal Investment Advisors Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 904 shares of the information services provider’s stock after buying an additional 106 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Alphabet were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Scharf Investments LLC raised its position in Alphabet by 2.7% in the second quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 7 shares during the period. Cedar Mountain Advisors LLC increased its position in shares of Alphabet by 26.9% during the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after acquiring an additional 7 shares during the last quarter. CVA Family Office LLC increased its position in shares of Alphabet by 11.7% during the second quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock worth $95,000 after acquiring an additional 7 shares during the last quarter. AFT Forsyth AND Company Inc. increased its position in shares of Alphabet by 0.8% during the second quarter. AFT Forsyth AND Company Inc. now owns 911 shares of the information services provider’s stock worth $1,292,000 after acquiring an additional 7 shares during the last quarter. Finally, Guardian Capital Advisors LP increased its position in shares of Alphabet by 0.5% during the second quarter. Guardian Capital Advisors LP now owns 1,381 shares of the information services provider’s stock worth $1,533,000 after acquiring an additional 7 shares during the last quarter. 33.78% of the stock is currently owned by institutional investors and hedge funds.

GOOGL has been the topic of a number of analyst reports. Mizuho lifted their target price on Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Needham & Company LLC reissued a “buy” rating and issued a $1,800.00 price objective on shares of Alphabet in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $2,020.00 price objective (up previously from $1,975.00) on shares of Alphabet in a research note on Monday, October 12th. Guggenheim raised their price objective on Alphabet from $1,580.00 to $1,725.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, BofA Securities raised their price objective on Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,686.58.

Shares of GOOGL stock traded up $26.32 during trading hours on Friday, reaching $1,632.98. The company had a trading volume of 1,527,402 shares, compared to its average volume of 2,089,133. The company has a 50 day moving average of $1,508.29 and a 200 day moving average of $1,448.76. 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 firm has a market cap of $1,110.69 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 2.09 and a beta of 1.10. Alphabet Inc. has a 1-year low of $1,008.87 and a 1-year high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, sell-side analysts forecast that Alphabet Inc. will post 44.93 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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