HWG Holdings LP Makes New Investment in Alphabet Inc (NASDAQ:GOOGL)

HWG Holdings LP purchased a new position in shares of Alphabet Inc (NASDAQ:GOOGL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,522 shares of the information services provider’s stock, valued at approximately $4,994,000. Alphabet makes up about 4.0% of HWG Holdings LP’s investment portfolio, making the stock its 6th largest position.

Other hedge funds have also modified their holdings of the company. Windacre Partnership LLC grew its position in Alphabet by 29.3% during the 2nd quarter. Windacre Partnership LLC now owns 186,000 shares of the information services provider’s stock worth $263,757,000 after purchasing an additional 42,100 shares during the period. Level Four Advisory Services LLC lifted its stake in Alphabet by 3.7% in the 2nd quarter. Level Four Advisory Services LLC now owns 5,521 shares of the information services provider’s stock valued at $7,827,000 after buying an additional 195 shares in the last quarter. Capital Impact Advisors LLC lifted its stake in Alphabet by 45.4% in the 2nd quarter. Capital Impact Advisors LLC now owns 8,644 shares of the information services provider’s stock valued at $12,258,000 after buying an additional 2,700 shares in the last quarter. Accident Compensation Corp lifted its stake in Alphabet by 16.8% in the 2nd quarter. Accident Compensation Corp now owns 4,386 shares of the information services provider’s stock valued at $6,219,000 after buying an additional 630 shares in the last quarter. Finally, Albion Financial Group UT raised its holdings in Alphabet by 27.7% in the 2nd quarter. Albion Financial Group UT now owns 11,711 shares of the information services provider’s stock valued at $16,607,000 after acquiring an additional 2,537 shares during the last quarter. 33.78% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Wells Fargo & Company reiterated a “buy” rating and issued a $1,750.00 target price (up previously from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Robert W. Baird raised their price target on shares of Alphabet from $1,500.00 to $1,650.00 in a research report on Thursday, June 25th. Canaccord Genuity raised their price target on shares of Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Goldman Sachs Group raised their price target on shares of Alphabet from $1,425.00 to $1,775.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Guggenheim raised their price target on shares of Alphabet from $1,580.00 to $1,725.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Four analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,662.16.

Shares of GOOGL traded down $10.29 on Friday, hitting $1,515.76. 1,532,698 shares of the stock traded hands, compared to its average volume of 2,138,212. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1,030.97 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.12 and a beta of 1.07. The stock’s 50 day moving average is $1,548.14 and its two-hundred day moving average is $1,392.60. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Research analysts forecast that Alphabet Inc will post 44.74 EPS for the current year.

Alphabet Profile

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.

Further Reading: What do investors mean by earnings per share?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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