Investec Asset Management PTY Ltd purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,853 shares of the information services provider’s stock, valued at approximately $1,571,000. Alphabet makes up about 1.0% of Investec Asset Management PTY Ltd’s investment portfolio, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Delta Asset Management LLC TN lifted its holdings 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 valued at $116,000 after purchasing an additional 2 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings 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 valued at $129,000 after purchasing an additional 56 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings 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 valued at $152,000 after purchasing an additional 33 shares in the last quarter. Cordasco Financial Network lifted its holdings 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 valued at $199,000 after purchasing an additional 5 shares in the last quarter. Finally, First Command Financial Services Inc. lifted its holdings in shares of Alphabet by 56.1% in the first quarter. First Command Financial Services Inc. now owns 242 shares of the information services provider’s stock valued at $205,000 after purchasing an additional 87 shares in the last quarter. 33.88% of the stock is currently owned by institutional investors.

Shares of Alphabet Inc. (GOOGL) traded down 0.41% during trading on Friday, reaching $945.99. 342,668 shares of the company were exchanged. The company has a 50 day moving average price of $946.67 and a 200-day moving average price of $922.99. The stock has a market capitalization of $655.46 billion, a price-to-earnings ratio of 34.28 and a beta of 0.98. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced 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. 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 analyst estimates of $20.83 billion. During the same period in the prior year, the business earned $8.42 EPS. Equities analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.

Several analysts have issued reports on the stock. UBS AG reaffirmed a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Monday, May 15th. B. Riley reissued a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Sunday, July 30th. SunTrust Banks, Inc. reissued a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Thursday. Robert W. Baird reissued an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Saturday, August 26th. Finally, Cowen and Company reissued an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average target price of $1,053.45.

ILLEGAL ACTIVITY NOTICE: “1,853 Shares in Alphabet Inc. (GOOGL) Acquired by Investec Asset Management PTY Ltd” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/08/1853-shares-in-alphabet-inc-googl-acquired-by-investec-asset-management-pty-ltd.html.

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Stock 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 stocks with our FREE daily email newsletter.