Griffin Asset Management Inc. Takes Position in Alphabet Inc (GOOGL)

Griffin Asset Management Inc. bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 437 shares of the information services provider’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. raised its holdings in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC raised its holdings in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. State Street Corp raised its holdings in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOGL) opened at $1,072.00 on Friday. Alphabet Inc has a 52-week low of $789.62 and a 52-week high of $1,080.00. The company has a market capitalization of $741,880.00, a PE ratio of 35.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the previous year, the company posted $9.06 EPS. equities research analysts expect that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. UBS reaffirmed an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Stifel Nicolaus lifted their price objective on Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a report on Monday, October 30th. Bank of America reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, September 26th. Robert W. Baird reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Saturday, August 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,089.17.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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