Trade Report: The Wedgewood Investors Inc. PA Acquires 15 Shares of Alphabet Inc. (GOOGL)

The Wedgewood Investors Inc. PA Acquires 15 Shares of Alphabet Inc. (GOOGL)

Wedgewood Investors Inc. PA raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 440 shares of the company’s stock after buying an additional 15 shares during the period. Wedgewood Investors Inc. PA’s holdings in Alphabet were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tompkins Financial Corp increased its stake in shares of Alphabet by 2.8% in the first quarter. Tompkins Financial Corp now owns 2,203 shares of the company’s stock valued at $1,681,000 after buying an additional 59 shares during the period. Cohen Lawrence B increased its stake in shares of Alphabet by 0.9% in the first quarter. Cohen Lawrence B now owns 344 shares of the company’s stock valued at $262,000 after buying an additional 3 shares during the period. City Holding Co. increased its stake in shares of Alphabet by 3.8% in the first quarter. City Holding Co. now owns 383 shares of the company’s stock valued at $292,000 after buying an additional 14 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Alphabet by 2.9% in the first quarter. Carroll Financial Associates Inc. now owns 538 shares of the company’s stock valued at $410,000 after buying an additional 15 shares during the period. Finally, Boston Advisors LLC increased its stake in shares of Alphabet by 5.8% in the first quarter. Boston Advisors LLC now owns 157,087 shares of the company’s stock valued at $119,842,000 after buying an additional 8,560 shares during the period. 34.12% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.58% during midday trading on Friday, hitting $798.44. 541,352 shares of the stock traded hands. The firm’s 50-day moving average is $799.80 and its 200 day moving average is $759.50. The company has a market capitalization of $548.75 billion, a price-to-earnings ratio of 30.94 and a beta of 1.00. Alphabet Inc. has a 52 week low of $662.36 and a 52 week high of $819.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts forecast that Alphabet Inc. will post $34.11 earnings per share for the current year.

Several brokerages recently commented on GOOGL. Mizuho restated a “buy” rating and issued a $1,020.00 price target (up previously from $1,010.00) on shares of Alphabet in a research report on Sunday, July 31st. Bank of America Corp. restated a “buy” rating and issued a $960.00 price target on shares of Alphabet in a research report on Monday, September 26th. Macquarie restated an “outperform” rating on shares of Alphabet in a research report on Tuesday, July 19th. Evercore ISI reiterated a “buy” rating and issued a $830.00 price objective on shares of Alphabet in a research note on Tuesday, July 26th. Finally, JMP Securities upped their price objective on shares of Alphabet from $904.00 to $928.00 and gave the company a “market outperform” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $926.06.

Alphabet Company Profile

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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