Principle Wealth Partners LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,657 shares of the information services provider’s stock after acquiring an additional 144 shares during the period. Alphabet comprises about 1.1% of Principle Wealth Partners LLC’s portfolio, making the stock its 21st largest holding. Principle Wealth Partners LLC’s holdings in Alphabet were worth $3,245,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $37,000. Garrett Wealth Advisory Group LLC acquired a new stake in Alphabet in the 3rd quarter worth about $39,000. Lipe & Dalton acquired a new stake in Alphabet in the 2nd quarter worth about $49,000. Johnson Financial Group Inc. raised its stake in Alphabet by 26.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after purchasing an additional 10 shares in the last quarter. Finally, Vista Private Wealth Partners. LLC acquired a new stake in Alphabet in the 3rd quarter worth about $60,000. 33.56% of the stock is owned by institutional investors.
Shares of NASDAQ:GOOGL traded up $2.06 during midday trading on Friday, hitting $1,309.00. The stock had a trading volume of 1,519,600 shares, compared to its average volume of 1,555,468. The company has a market capitalization of $895.48 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,322.65. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $1,241.32 and its 200-day moving average price is $1,181.32.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The firm had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. During the same quarter last year, the firm posted $13.06 EPS. Research analysts expect that Alphabet Inc will post 49.05 EPS for the current fiscal year.
Several analysts have weighed in on GOOGL shares. Wedbush lifted their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. MKM Partners reiterated a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Alphabet from $1,500.00 to $1,550.00 in a research note on Tuesday, October 29th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $1,299.00 to $1,325.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Finally, JMP Securities lifted their price objective on shares of Alphabet to $1,450.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,406.25.
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.
Further Reading: Average Daily Trade Volume – ADTV
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