Covington Capital Management increased its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,213 shares of the information services provider’s stock after buying an additional 3 shares during the quarter. Covington Capital Management’s holdings in Alphabet were worth $11,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in Alphabet during the 2nd quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet during the 1st quarter worth $108,000. Parkside Financial Bank & Trust boosted its stake in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares in the last quarter. Odey Holdings AG boosted its stake in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Finally, Lloyds Banking Group plc bought a new stake in shares of Alphabet during the 2nd quarter worth $133,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,048.77 on Wednesday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1-year low of $789.62 and a 1-year high of $1,080.00. The stock has a market capitalization of $730,909.81, a price-to-earnings ratio of 35.22, a P/E/G ratio of 1.77 and a beta of 0.89.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. During the same period last year, the company earned $9.06 earnings per share. analysts predict that Alphabet Inc will post 32.34 EPS for the current year.

Several equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Alphabet in a research note on Tuesday, December 5th. They set an “outperform” rating for the company. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 price objective for the company in a research note on Monday, December 4th. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Citigroup reissued a “buy” rating on shares of Alphabet in a research note on Monday, October 30th. Finally, Stifel Nicolaus raised their price objective on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,089.17.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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