Wendell David Associates Inc. Has $7.15 Million Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

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Wendell David Associates Inc. lifted its stake in Alphabet Inc (NASDAQ:GOOGL) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,857 shares of the information services provider’s stock after purchasing an additional 43 shares during the period. Wendell David Associates Inc.’s holdings in Alphabet were worth $7,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Lodestar Investment Counsel LLC IL lifted its stake in Alphabet by 0.8% in the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after acquiring an additional 34 shares during the period. Essex Financial Services Inc. lifted its position in shares of Alphabet by 4.1% during the second quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock valued at $4,446,000 after buying an additional 160 shares during the last quarter. Pacific Wealth Strategies Group Inc. increased its holdings in shares of Alphabet by 2.7% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock valued at $4,009,000 after acquiring an additional 87 shares in the last quarter. Carlson Capital L P increased its holdings in shares of Alphabet by 19.2% during the second quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock valued at $26,447,000 after acquiring an additional 3,935 shares in the last quarter. Finally, Hemenway Trust Co LLC increased its holdings in shares of Alphabet by 2.1% during the second quarter. Hemenway Trust Co LLC now owns 18,121 shares of the information services provider’s stock valued at $19,621,000 after acquiring an additional 378 shares in the last quarter. 33.59% of the stock is owned by institutional investors.

NASDAQ:GOOGL traded up $22.77 on Friday, hitting $1,331.92. 74,020 shares of the stock were exchanged, compared to its average volume of 1,514,309. The stock has a market cap of $894.67 billion, a PE ratio of 28.03, a PEG ratio of 1.58 and a beta of 1.01. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $1,248.84 and a 200-day moving average of $1,182.46. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,322.65.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. During the same quarter last year, the business posted $13.06 EPS. As a group, analysts predict that Alphabet Inc will post 49.05 earnings per share for the current year.

Several research firms have recently issued reports on GOOGL. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of Alphabet from $1,425.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Barclays reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research note on Tuesday, October 29th. Wedbush raised their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $1,700.00 price objective (up previously from $1,500.00) on shares of Alphabet in a research note on Wednesday, October 23rd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,411.81.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Operating Income

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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