Trade Report: Today, Independence Advisors LLC Increases Stake in Alphabet Inc. (GOOGL)

Today, Independence Advisors LLC Increases Stake in Alphabet Inc. (GOOGL)

Independence Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 618 shares of the company’s stock after buying an additional 3 shares during the period. Independence Advisors LLC’s holdings in Alphabet were worth $497,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock valued at $102,000 after buying an additional 72 shares during the period. Archford Capital Strategies LLC raised its position in Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock valued at $104,000 after buying an additional 34 shares during the period. Roble Belko & Company Inc raised its position in Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock valued at $108,000 after buying an additional 115 shares during the period. MCF Advisors LLC raised its position in Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock valued at $112,000 after buying an additional 3 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new position in Alphabet during the second quarter valued at approximately $117,000. Institutional investors and hedge funds own 34.14% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.16% during mid-day trading on Friday, hitting $780.23. 613,549 shares of the stock were exchanged. The firm has a market cap of $537.76 billion, a price-to-earnings ratio of 28.56 and a beta of 0.92. The company’s 50-day moving average is $800.21 and its 200-day moving average is $771.86. Alphabet Inc. has a 1-year low of $672.66 and a 1-year high of $839.00.

Several brokerages have issued reports on GOOGL. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $880.83 price objective on the stock in a report on Thursday. MKM Partners set a $935.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Monday, November 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $930.00 price objective on shares of Alphabet in a report on Tuesday, November 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $1,025.00 price objective on shares of Alphabet in a report on Thursday, November 3rd. Finally, B. Riley reaffirmed a “buy” rating and set a $990.00 price objective on shares of Alphabet in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $940.44.

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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