Peak Capital Management LLC Purchases New Holdings in Alphabet Inc. (GOOGL)
Peak Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 556 shares of the information services provider’s stock, valued at approximately $517,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investec Asset Management LTD boosted its position in Alphabet by 62.7% during the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock worth $526,576,000 after purchasing an additional 239,390 shares in the last quarter. Karp Capital Management Corp grew its holdings in Alphabet by 5,218.2% in the first quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock valued at $169,350,000 after purchasing an additional 195,996 shares during the last quarter. State Street Corp grew its holdings in Alphabet by 1.2% in 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 during the last quarter. Boston Partners grew its holdings in Alphabet by 9.9% in 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 during the last quarter. Finally, Scopus Asset Management L.P. acquired a new stake in Alphabet in the first quarter valued at $72,063,000. Hedge funds and other institutional investors own 33.85% of the company’s stock.
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GOOGL has been the topic of a number of research reports. B. Riley reissued a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Sunday, July 30th. MKM Partners restated a “buy” rating and set a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Cowen and Company restated an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Alphabet in a 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 price target on the stock in a report on Monday, July 3rd. One 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 issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,056.14.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded down 0.112% during mid-day trading on Tuesday, hitting $966.385. 537,768 shares of the company’s stock were exchanged. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61. The company has a market capitalization of $669.59 billion, a price-to-earnings ratio of 35.023 and a beta of 0.96. The firm has a 50 day moving average price of $942.69 and a 200-day moving average price of $934.82.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share 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 quarter last year, the firm posted $8.42 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
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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