Meyer Handelman Co. continued to hold its stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,955 shares of the information services provider’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Alphabet were worth $6,466,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in Alphabet during the first quarter valued at about $108,000. Delta Asset Management LLC TN boosted its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Farmers National Bank boosted its stake in Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares in the last quarter. 34.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded down 0.16% during midday trading on Friday, reaching $926.18. 1,337,404 shares of the company’s stock traded hands. Alphabet Inc. has a 52-week low of $743.59 and a 52-week high of $1,008.61. The stock’s 50 day moving average price is $952.51 and its 200 day moving average price is $912.15. The firm has a market capitalization of $641.73 billion, a P/E ratio of 33.57 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter in the prior year, the business earned $8.42 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current fiscal year.
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GOOGL has been the topic of several research reports. UBS AG restated a “buy” rating and issued a $1,050.00 price target (up previously from $980.00) on shares of Alphabet in a report on Saturday, April 29th. B. Riley restated a “buy” rating and issued a $1,032.00 price target on shares of Alphabet in a report on Wednesday, May 3rd. Cowen and Company restated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a report on Thursday, August 10th. KeyCorp restated an “overweight” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Thursday, July 27th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Alphabet in a report on Tuesday, August 15th. They issued a “buy” rating and a $1,100.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,053.45.
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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