The most recent 13F filing that Guinness Atkinson Asset Management Inc. submitted to the Securities and Exchange Commission revealed that the company increased its stake in Alphabet Inc. (NASDAQ: GOOGL) by 1,900.0% during the third quarter. Following the completion of the period, the company had 46,420 shares in its possession after having purchased an additional 44,099 shares of stock from the information services provider. Guinness Atkinson Asset Management Inc. comes in at number 14 on the list of companies holding shares in Alphabet and having a stake of 2.8%. According to the most recent report that Guinness Atkinson Asset Management Inc. submitted to the Securities and Exchange Commission, the company maintained a holding of Alphabet stock valued at $4,440,000 at the end of the reporting period.
Over the past few months, various other institutional investors have adjusted the total number of shares of GOOGL stock that they currently own. As a result, causes were promoted during the year’s second quarter. The increase in Alphabet’s stock holdings was due to Wealth Management Services L.L.C., responsible for the 72.7 percent increase. Advocacy Wealth Management Services L.L.C. now has 19 shares in the information services provider after purchasing eight additional shares during the preceding quarter. At the current market price of $41,000, the company’s holdings in the information services provider are worth $41,000. During the second quarter of this year, Cardinal Capital Management Inc. initiated a new investment in Alphabet worth $41,000. The value of Belmont Capital L.L.C.’s holdings in Alphabet increased by 110.0% during the second quarter compared to the previous quarter. Following the acquisition of an additional 11 shares during the most recent fiscal quarter, Belmont Capital L.L.C. now holds 21 shares of the information services provider’s stock, which has an estimated value of $46,000. In addition, the Oliver Lagore Vanvalin Investment Group made a new investment in Alphabet worth $94,000 during the first three months of the year 2018. In the second quarter, Newfound Research L.L.C. surpassed its competitors by significantly boosting its holdings of Alphabet by 53.8 percent. Newfound Research L.L.C. now has 40 shares in the information services provider after purchasing an additional 14 shares during the most recent quarter. The present value of Newfound Research L.L.C.’s 40 shares in the company is $87,000. The combined holdings of the company’s stock by institutional investors and hedge funds amount to 34.06% of the total shares outstanding.
When trading started on Friday, the price of a share of Google was $91.13 per share. The company has a simple moving average of $92.71 for the last fifty days and a simple moving average of $102.36 for the last two hundred days. The debt-to-equity ratio is at an all-time low of zero, while the quick ratio stands at 2.47, and the current ratio comes in at 2.52. Over the last 52 weeks, the price of Alphabet Inc. has ranged from a low of $83.34 to a high of $151.55. During the same period, the price has never been lower than $83.34. Because the company has a market value of $1.18 trillion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.53, and a beta value of 1.09, it has adequate financial resources.
The quarterly financial figures that Alphabet (NASDAQ: GOOGL) had previously compiled were made public on Tuesday, October 25. Most market analysts forecasted that the information services company would earn $1.25 per share in profits for the quarter. Still, the company only reported $1.06 in profits per share instead of the $1.25 that was expected. Alphabet had a return on equity of 26.41% and a net margin of 23.75% for the company overall. The revenue for the company for the quarter came in at $57.27 billion, which is a significant amount lower than the analysts’ prediction of $58.36 billion in revenue for the company. Nevertheless, the company reported a profit of $1.40 per share for the quarter, compared to the results it achieved during the same period the year before. According to projections made by analysts focusing on equity analysis, Alphabet Inc. will generate $4.68 per share in 2018.
The viewpoints of various equity research analysts have been discussed on the subject of business. The Goldman Sachs Group disclosed, in a research report that was made available for public consumption on Thursday, October 27, that the price objective they have set for Alphabet has been lowered to $135.00. Atlantic Securities announced in a research note released on Thursday, October 27, that they have decreased their price target on Alphabet to $115.00. Credit Suisse Group decreased the price target for Alphabet in a research report published on Wednesday, October 26. The new price target is $128.0, down from $134.00.
Additionally, an “outperform” rating was given to the company’s stock based on the research study’s findings. Rosenblatt Securities lowered their price target on Alphabet from $156.00 to $130.00 in a research note published on Wednesday, October 26. Despite this, they maintained a “buy” rating for the stock. In addition, Alphabet received a “positive” rating from Susquehanna in a research report published on Wednesday, October 26. This report also included Susquehanna’s decision to lower their price objective on Alphabet from $150.00 to $120.00. The study aimed to investigate the company’s perspective on the stock. There have been five analysts that have rated the stock as a recommendation to hold, while there have been 32 analysts that have rated the stock as a buy, and there has been one analyst that has rated the stock as a strong buy. According to reports on Bloomberg.com, the price target for the stock has been established at $132.00, and it is currently rated as having a consensus of a “Moderate Buy” recommendation.
In other news about this topic, on October 31, 107,393 shares of the company’s stock were sold by key stakeholders in 2017 G.P. L.L.C. The purchase of each share occurred at an average price of $38.64 throughout the sale, which resulted in the total value of the transaction being 4,149,665.52 dollars. Access to the legal file that details the transaction’s disclosure can be gained through the Securities and Exchange Commission’s (S.E.C.) website. This file can be found on the website. In other news about this topic, on October 31, 107,393 shares of the company’s stock were sold by key stakeholders in 2017 G.P. L.L.C. The purchase of each share occurred at an average price of $38.64 throughout the sale, which resulted in the total value of the transaction being 4,149,665.52 dollars. One can access the legal file containing the disclosure of the transaction by going to the website of the Securities and Exchange Commission (S.E.C.).
Additionally, on January 3, Senior Vice President Prabhakar Raghavan sold 22,203 of the company’s shares of stock. As a result, it was determined that a total of 1,992,719.25 dollars’ worth of shares were traded, with an average price of $89.75 per share. The senior vice president now owns 76,579 shares of company stock, which have a combined value of $6,872,965.25, as a direct result of the transaction. Disclosures that are related to the sale might be found in this section of the website. Following the completion of transactions over the preceding three months, company insiders owned 11.44% of the company’s stock. These transactions included the purchase of 1,461,702 shares for $36,999,217 and the sale of 190,744 shares for $8,564,640.
Alphabet, Inc. provides its customers in the United States of America, Europe, the Middle East, Africa, the Asia-Pacific region, Canada, and Latin America with access to various products and platforms. The three distinct divisions that comprise the overall corporation are referred to as “Other Bets,” “Google Cloud,” and “Google Services,” respectively. Within the Google Services section of the Google website, users can gain access to a variety of Google products and services, including ads, android, chrome, hardware, Gmail, google drive, google maps, google photos, google play, search, and youtube.