Cohen & Associates LLC Invests $574000 in Alphabet Inc. (GOOGL) Stock

Cohen & Associates LLC Invests $574000 in Alphabet Inc. (GOOGL) Stock

Andrew Cummings
October 13, 2017

The stock has a consensus rating of Buy and a consensus target price of $1,058.31. They now have a $1,050.00 price objective on the information services provider's stock.

Several analysts have issued reports on the stock. BMO Capital Markets reaffirmed an outperform rating and set a $1,005.00 price objective on shares of Alphabet in a report on Monday, March 27th. Wells Fargo & Company restated a "buy" rating on shares of Alphabet in a report on Friday, October 6th. The rating was maintained by Needham with "Buy" on Tuesday, July 25. Cowen and Company restated an "outperform" rating and issued a $1,075.00 price target on shares of Alphabet in a research note on Thursday, August 10th. The Sr VP now owns $0 of the stock per the Form 4 SEC filing. Volume levels spiked and GOOGL actually managed a breakout which translated to 1.79 million shares changing hands on the day. The company's 50-day moving average is $936.57 and its 200-day average is $922.23. The company has a market capitalization of $298.08 billion, a price-to-earnings ratio of 43.788 and a beta of 0.96. Alphabet has a 12-month low of $743.59 and a 12-month high of $1,008.61. In the latest earnings report the EPS was $27.59 and is expected to be $30.58 for the current year with 692,879,000 shares presently outstanding. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the firm posted $7.50 EPS. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & worldwide copyright & trademark law. The legal version of this report can be viewed at

In other Alphabet news, Director Ann Mather sold 37 shares of Alphabet stock in a transaction on Friday, September 1st. The total value of its holdings decreased 5.1%. Moreover, Vnbtrust National Association has 1.67% invested in the company for 384,123 shares. (NASDAQ:GOOGL) has gathered pace in recent weeks as a result of the underlying changes in the state of insider activity. Sundar Pichai, CEO let go of $3,748,040 worth of shares at an average price of $937.01 on Wednesday the 6th. The shares were sold on August 14th for an average price of $931.32. The disclosure for this sale can be found here.

A number of hedge funds have recently modified their holdings of the business. State Street Corp now owns 11,946,348 shares of the information services provider's stock valued at $10,128,119,000 after purchasing an additional 142,214 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.6% in the first quarter. Adviser Investments LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $1,276,000. The value of the investment in Alphabet Inc. decreased from $909,000 to $863,000 a change of $46,000 quarter over quarter. Lourd Capital, LLC claims 1,194 shares worth $1,145,000. Finally, Hartford Investment Management Co. grew its position in shares of Alphabet by 6.1% in the 1st quarter. The firm owned 3,850 shares of the information services provider's stock after acquiring an additional 470 shares during the quarter. The Company's divisions include Google and Other Bets.

Jackson Grant Investment Advisers Inc. boosted its stake in shares of Alphabet by 0.6% in the fourth quarter.

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