Montecito Bank & Trust acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,273 shares of the information services provider’s stock, valued at approximately $1,184,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp grew its position in Alphabet by 1.2% during the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after purchasing an additional 142,214 shares in the last quarter. Bank of Montreal Can grew its position in Alphabet by 0.8% during the second quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock valued at $1,017,719,000 after purchasing an additional 8,375 shares in the last quarter. Fisher Asset Management LLC grew its position in Alphabet by 2.6% during the first quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock valued at $908,302,000 after purchasing an additional 27,598 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Alphabet by 4.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 994,541 shares of the information services provider’s stock valued at $843,172,000 after purchasing an additional 45,805 shares in the last quarter. Finally, Boston Partners grew its position in Alphabet by 9.9% during the first quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock valued at $823,046,000 after purchasing an additional 87,783 shares in the last quarter. 33.85% of the stock is currently owned by hedge funds and other institutional investors.

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Alphabet Inc. (NASDAQ:GOOGL) opened at 973.72 on Friday. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61. The stock has a 50 day moving average of $939.49 and a 200 day moving average of $928.76. The company has a market cap of $674.67 billion, a price-to-earnings ratio of 35.29 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter last year, the firm posted $8.42 earnings per share. Equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

Several analysts have commented on the stock. B. Riley reissued a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Sunday, July 30th. MKM Partners reissued a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, July 4th. Finally, Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 target price for the company in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,056.14.

Alphabet 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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