Todays Report: The Guinness Atkinson Asset Management Inc Continues to Hold Stake in Alphabet Inc. (GOOGL)

The Guinness Atkinson Asset Management Inc Continues to Hold Stake in Alphabet Inc. (GOOGL)

Guinness Atkinson Asset Management Inc maintained its stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,490 shares of the company’s stock at the end of the second quarter. Alphabet makes up approximately 2.9% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 18th largest position. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $4,566,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,181,006 shares of the company’s stock valued at $8,529,984,000 after buying an additional 39,282 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Alphabet by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,618,239 shares of the company’s stock valued at $5,811,955,000 after buying an additional 44,888 shares during the period. Geode Capital Management LLC raised its position in shares of Alphabet by 4.4% in the first quarter. Geode Capital Management LLC now owns 2,552,124 shares of the company’s stock valued at $1,943,342,000 after buying an additional 106,872 shares during the period. BlackRock Group LTD raised its position in shares of Alphabet by 0.5% in the first quarter. BlackRock Group LTD now owns 2,332,888 shares of the company’s stock valued at $1,779,758,000 after buying an additional 12,105 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Alphabet by 1.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,886,938 shares of the company’s stock valued at $1,439,545,000 after buying an additional 28,772 shares during the period. Institutional investors own 34.12% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.27% on Wednesday, reaching $811.77. 907,745 shares of the company’s stock traded hands. The stock has a market capitalization of $557.91 billion, a price-to-earnings ratio of 31.45 and a beta of 1.00. Alphabet Inc. has a 52 week low of $670.70 and a 52 week high of $819.86. The firm has a 50-day moving average price of $800.52 and a 200-day moving average price of $760.57.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, analysts predict that Alphabet Inc. will post $34.11 earnings per share for the current year.

Several research analysts have commented on GOOGL shares. Morgan Stanley restated a “buy” rating and issued a $880.00 price objective on shares of Alphabet in a report on Thursday, September 29th. Cantor Fitzgerald restated a “buy” rating and issued a $1,000.00 price objective on shares of Alphabet in a report on Wednesday, October 5th. Jefferies Group restated a “buy” rating and issued a $1,000.00 price objective on shares of Alphabet in a report on Monday, October 3rd. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $838.19 price objective for the company in a report on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and issued a $960.00 target price on shares of Alphabet in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $926.50.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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