State of Alaska Department of Revenue acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 110 shares of the information services provider’s stock, valued at approximately $102,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $108,000. Delta Asset Management LLC TN boosted its position in Alphabet by 1.5% during the 1st 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 during the period. Farmers National Bank boosted its position in Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 4 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in Alphabet by 58.3% during the 1st 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 during the period. Finally, Jacobi Capital Management LLC acquired a new position in Alphabet during the 1st quarter valued at approximately $132,000. 33.85% of the stock is owned by institutional investors.

A number of research analysts have issued reports on GOOGL shares. Moffett Nathanson reissued a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and raised their price target for the company from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Cantor Fitzgerald restated a “buy” rating and issued a $1,070.00 price target on shares of Alphabet in a research note on Tuesday, June 27th. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 price target on the stock in a report on Tuesday, June 27th. Finally, Zacks Investment Research cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-one have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,056.14.

Alphabet Inc. (GOOGL) traded down 0.30% on Wednesday, reaching $969.17. 423,637 shares of the company were exchanged. The stock has a 50 day moving average of $943.64 and a 200 day moving average of $935.54. The firm has a market capitalization of $671.52 billion, a PE ratio of 35.12 and a beta of 0.96. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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). The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period in the prior year, the firm posted $8.42 earnings per share. Equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/04/110-shares-in-alphabet-inc-googl-acquired-by-state-of-alaska-department-of-revenue.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.

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.