Roffman Miller Associates Inc. PA boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,344 shares of the information services provider’s stock after buying an additional 1,397 shares during the period. Alphabet comprises about 2.0% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 29th largest position. Roffman Miller Associates Inc. PA’s holdings in Alphabet were worth $14,265,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Alphabet by 1.2% in the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after buying an additional 142,214 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet during the fourth quarter worth about $2,411,505,000. Franklin Resources Inc. increased its position in shares of Alphabet by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 1,575,345 shares of the information services provider’s stock worth $1,248,643,000 after buying an additional 16,006 shares during the last quarter. Bank of Montreal Can increased its position in shares of Alphabet by 0.8% in the second quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock worth $1,017,719,000 after buying an additional 8,375 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Alphabet by 2.6% in the first quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock worth $908,302,000 after buying an additional 27,598 shares during the last quarter. 34.12% of the stock is currently owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ GOOGL) remained flat at $927.67 during mid-day trading on Friday. The company’s stock had a trading volume of 528,054 shares. Alphabet Inc. has a 1-year low of $743.59 and a 1-year high of $1,008.61. The firm has a market capitalization of $642.76 billion, a P/E ratio of 33.62 and a beta of 0.99. The company has a 50-day moving average price of $952.84 and a 200-day moving average price of $911.41.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the company posted $8.42 EPS. On average, analysts anticipate that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://stocknewstimes.com/2017/08/18/roffman-miller-associates-inc-pa-has-14-27-million-position-in-alphabet-inc-googl-updated-updated.html.
A number of research analysts have issued reports on GOOGL shares. JMP Securities reissued an “outperform” rating and set a $1,095.00 price objective (up from $1,020.00) on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reissued an “outperform” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Monday, April 24th. Societe Generale set a $1,210.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reissued a “buy” rating and set a $1,170.00 price objective (up from $1,000.00) on shares of Alphabet in a research report on Monday, May 8th. Finally, Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price objective on the stock. in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,053.45.
Alphabet Company Profile
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.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
