Dillon & Associates Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,191 shares of the information services provider’s stock after buying an additional 84 shares during the period. Alphabet comprises about 3.3% of Dillon & Associates Inc.’s holdings, making the stock its 11th largest position. Dillon & Associates Inc.’s holdings in Alphabet were worth $7,794,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new position in Alphabet during the fourth quarter valued at $2,411,505,000. Glenview Capital Management LLC acquired a new position in Alphabet during the fourth quarter valued at $605,119,000. Asset Management One Co. Ltd. increased its position in Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the information services provider’s stock valued at $439,667,000 after buying an additional 508,715 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Alphabet during the fourth quarter valued at $341,958,000. Finally, Dodge & Cox acquired a new position in Alphabet during the fourth quarter valued at $260,940,000. Institutional investors own 34.33% of the company’s stock.
Alphabet Inc. (NASDAQ GOOGL) opened at 992.19 on Friday. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The firm’s 50 day moving average is $968.58 and its 200 day moving average is $895.39. The stock has a market capitalization of $686.35 billion, a P/E ratio of 33.53 and a beta of 1.00. Alphabet also was the target of unusually large options trading on Wednesday. Stock investors purchased 18,660 call options on the stock. This is an increase of 121% compared to the typical daily volume of 8,448 call options.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.24 by $0.49. The business had revenue of $20.12 billion for the quarter, compared to analysts’ expectations of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same period in the prior year, the firm earned $7.50 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post $33.97 earnings per share for the current year.
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Several analysts have recently issued reports on the stock. Instinet reiterated a “buy” rating and issued a $925.00 target price on shares of Alphabet in a research note on Tuesday, April 25th. BMO Capital Markets lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $1,005.00 to $880.00 in a research note on Tuesday, April 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $1,200.00 target price (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, April 28th. Loop Capital assumed coverage on shares of Alphabet in a research note on Friday, March 31st. They issued a “hold” rating and a $800.00 target price for the company. Finally, Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and forty have given a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,020.97.
About Alphabet
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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