Hayek Kallen Investment Management Boosts Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Hayek Kallen Investment Management raised its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,191 shares of the information services provider’s stock after purchasing an additional 23 shares during the period. Alphabet makes up approximately 2.4% of Hayek Kallen Investment Management’s portfolio, making the stock its 12th biggest holding. Hayek Kallen Investment Management’s holdings in Alphabet were worth $3,897,000 as of its most recent SEC filing.

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Other hedge funds also recently added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL boosted its stake in shares of Alphabet by 0.8% in the 2nd quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after buying an additional 34 shares during the last quarter. Essex Financial Services Inc. boosted its stake in shares of Alphabet by 4.1% in the 2nd quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock worth $4,446,000 after buying an additional 160 shares during the last quarter. Pacific Wealth Strategies Group Inc. boosted its stake in shares of Alphabet by 2.7% in the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock worth $4,009,000 after buying an additional 87 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Alphabet by 1.3% in the 3rd quarter. LS Investment Advisors LLC now owns 11,835 shares of the information services provider’s stock worth $14,452,000 after buying an additional 151 shares during the last quarter. Finally, Carlson Capital L P boosted its stake in shares of Alphabet by 19.2% in the 2nd quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock worth $26,447,000 after buying an additional 3,935 shares during the last quarter. Institutional investors and hedge funds own 33.59% of the company’s stock.

GOOGL stock traded up $24.39 during midday trading on Friday, reaching $1,333.54. 1,851,700 shares of the company’s stock traded hands, compared to its average volume of 1,522,865. The company has a 50-day moving average price of $1,250.67 and a two-hundred day moving average price of $1,182.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,333.54. The firm has a market capitalization of $902.90 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01.

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

A number of equities analysts have recently weighed in on GOOGL shares. Needham & Company LLC set a $1,350.00 target price on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. Loop Capital boosted their target price on Alphabet to $1,450.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. They noted that the move was a valuation call. KeyCorp boosted their target price on Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $1,700.00 price target (up previously from $1,500.00) on shares of Alphabet in a report on Wednesday, October 23rd. They noted that the move was a valuation call. Finally, FBN Securities set a $1,400.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,411.81.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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