PAX Financial Group LLC Invests $550,000 in Alphabet Inc (NASDAQ:GOOGL)

PAX Financial Group LLC purchased a new position in Alphabet Inc (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 362 shares of the information services provider’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Auxier Asset Management grew its holdings in Alphabet by 1.8% in the fourth quarter. Auxier Asset Management now owns 3,822 shares of the information services provider’s stock valued at $5,119,000 after purchasing an additional 69 shares during the period. Insight Wealth Strategies LLC raised its holdings in shares of Alphabet by 8.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,383 shares of the information services provider’s stock worth $1,852,000 after acquiring an additional 108 shares during the period. Kerntke Otto McGlone Wealth Management Group acquired a new stake in shares of Alphabet during the fourth quarter worth $679,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Alphabet during the fourth quarter worth $6,864,000. Finally, National Pension Service raised its holdings in shares of Alphabet by 14.2% during the fourth quarter. National Pension Service now owns 358,378 shares of the information services provider’s stock worth $480,008,000 after acquiring an additional 44,483 shares during the period. 35.06% of the stock is owned by hedge funds and other institutional investors.

Shares of GOOGL stock traded down $52.66 during midday trading on Friday, hitting $1,110.26. 3,138,345 shares of the company were exchanged, compared to its average volume of 3,628,759. The firm has a market capitalization of $763.06 billion, a P/E ratio of 22.58, a PEG ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.37. The firm’s 50 day moving average price is $1,327.82 and its two-hundred day moving average price is $1,319.48. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 3rd. The information services provider reported $15.35 earnings per share for the quarter, topping the consensus estimate of $12.76 by $2.59. Alphabet had a net margin of 21.22% and a return on equity of 18.66%. The business had revenue of $37.57 billion during the quarter, compared to analysts’ expectations of $38.44 billion. During the same quarter in the previous year, the company earned $12.77 EPS. Analysts expect that Alphabet Inc will post 52.52 EPS for the current year.

A number of research analysts recently weighed in on the stock. SunTrust Banks decreased their target price on shares of Alphabet from $1,600.00 to $1,350.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird restated a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a report on Thursday, December 19th. Citigroup increased their price target on Alphabet from $1,500.00 to $1,700.00 and gave the company a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus restated a “buy” rating and set a $1,525.00 price target on shares of Alphabet in a report on Friday, January 24th. Finally, Independent Research upgraded Alphabet to a “buy” rating and set a $1,520.00 price target on the stock in a report on Friday, March 13th. Six research analysts have rated the stock with a hold rating and forty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,511.24.

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.

Further Reading: Portfolio Manager

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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