Pictet Asset Management Ltd. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,235 shares of the information services provider’s stock after buying an additional 29,044 shares during the period. Alphabet accounts for approximately 0.7% of Pictet Asset Management Ltd.’s holdings, making the stock its 14th largest position. Pictet Asset Management Ltd.’s holdings in Alphabet were worth $223,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Delta Asset Management LLC TN increased its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Riggs Asset Managment Co. Inc. increased its position in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in shares of Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock worth $152,000 after buying an additional 33 shares during the period. Finally, Cordasco Financial Network increased its position in shares of Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock worth $199,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 34.12% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) traded down 0.16% on Friday, reaching $926.18. The company’s stock had a trading volume of 1,337,404 shares. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The company has a market capitalization of $641.73 billion, a PE ratio of 33.57 and a beta of 0.99. The firm has a 50-day moving average of $952.51 and a 200-day moving average of $912.15.

Alphabet (NASDAQ:GOOGL) last announced 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 net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the firm earned $8.42 EPS. Analysts predict that Alphabet Inc. will post $30.60 EPS for the current year.

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A number of equities analysts have recently issued reports on the company. Wedbush restated an “underperform” rating and set a $725.00 price objective (up from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. J P Morgan Chase & Co raised their price objective on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research report on Saturday, July 22nd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a research report on Tuesday, July 25th. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and raised their price objective for the stock from $967.93 to $1,000.00 in a research report on Thursday, June 15th. Finally, FBR & Co reiterated an “outperform” rating and issued a $1,050.00 target price (up from $1,032.00) on shares of Alphabet in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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