Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Hollencrest Capital Management

Hollencrest Capital Management lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,686 shares of the information services provider’s stock after acquiring an additional 320 shares during the quarter. Hollencrest Capital Management’s holdings in Alphabet were worth $4,507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. FMR LLC now owns 13,134,972 shares of the information services provider’s stock worth $32,072,840,000 after purchasing an additional 118,821 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,058,794 shares of the information services provider’s stock worth $12,317,675,000 after purchasing an additional 119,059 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock worth $7,854,059,000 after purchasing an additional 39,437 shares during the last quarter. Legal & General Group Plc raised its stake in Alphabet by 1.8% during the 2nd quarter. Legal & General Group Plc now owns 1,940,270 shares of the information services provider’s stock valued at $4,737,726,000 after acquiring an additional 33,699 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Alphabet by 3.1% during the 2nd quarter. Deutsche Bank AG now owns 1,904,058 shares of the information services provider’s stock valued at $4,649,310,000 after acquiring an additional 56,899 shares in the last quarter. Institutional investors own 34.30% of the company’s stock.

Shares of NASDAQ:GOOGL opened at $2,922.40 on Thursday. Alphabet Inc. has a fifty-two week low of $1,694.00 and a fifty-two week high of $3,019.33. The business has a 50-day moving average of $2,850.18 and a two-hundred day moving average of $2,668.40. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 28.14, a P/E/G ratio of 1.07 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a return on equity of 30.22% and a net margin of 29.52%. During the same period in the previous year, the company earned $16.40 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 107.86 EPS for the current fiscal year.

Several analysts have weighed in on the company. Barclays lifted their target price on Alphabet from $3,200.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. KeyCorp lifted their target price on Alphabet from $3,071.00 to $3,090.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Wedbush boosted their price objective on Alphabet from $3,424.00 to $3,530.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 27th. Morgan Stanley boosted their price objective on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 2nd. Finally, Canaccord Genuity boosted their price objective on Alphabet from $3,100.00 to $3,350.00 and gave the stock a “buy” rating in a research note on Wednesday, October 27th. Four equities research analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $3,156.15.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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