Clearbridge Investments LLC Has $493.39 Million Position in Alphabet Inc. (GOOGL)
Clearbridge Investments LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 581,966 shares of the information services provider’s stock after buying an additional 41,394 shares during the period. Clearbridge Investments LLC owned approximately 0.08% of Alphabet worth $493,391,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC bought a new stake in Alphabet during the first quarter valued at approximately $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. 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. Finally, Jacobi Capital Management LLC bought a new stake in Alphabet during the first quarter valued at approximately $132,000. 34.12% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (GOOGL) traded down 0.40% during midday trading on Monday, hitting $922.44. 510,378 shares of the stock traded hands. The firm has a market cap of $639.14 billion, a PE ratio of 33.43 and a beta of 0.99. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The company’s 50 day moving average price is $952.51 and its 200 day moving average price is $912.15.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The business had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the previous year, the business posted $8.42 earnings per share. Equities research analysts predict that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on GOOGL shares. JMP Securities reaffirmed an “outperform” rating and issued a $1,095.00 target price (up from $1,020.00) on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reiterated an “outperform” rating and issued a $1,050.00 price target on shares of Alphabet in a research note on Monday, April 24th. Societe Generale set a $1,210.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reiterated a “buy” rating and issued a $1,170.00 price target (up from $1,000.00) on shares of Alphabet in a research note on Monday, May 8th. Finally, Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target for the company. in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,053.45.
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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