Ionic Capital Management LLC Has $2.14 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Ionic Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 101.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,521 shares of the information services provider’s stock after buying an additional 1,270 shares during the quarter. Ionic Capital Management LLC’s holdings in Alphabet were worth $2,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Delta Asset Management LLC TN lifted its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its stake in Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock valued at $152,000 after buying an additional 33 shares during the last quarter. Cordasco Financial Network lifted its stake in Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock valued at $199,000 after buying an additional 5 shares during the last quarter. Finally, First Command Financial Services Inc. lifted its stake in Alphabet by 56.1% in the first quarter. First Command Financial Services Inc. now owns 242 shares of the information services provider’s stock valued at $205,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 33.88% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ GOOGL) traded down 0.51% during trading on Friday, hitting $935.29. The stock had a trading volume of 1,994,265 shares. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The stock has a 50 day moving average price of $940.56 and a 200-day moving average price of $926.45. The stock has a market capitalization of $278.76 billion, a price-to-earnings ratio of 40.95 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). 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 the consensus estimate of $20.83 billion. During the same period last year, the business posted $8.42 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.

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A number of equities research analysts recently weighed in on the stock. J P Morgan Chase & Co lifted their price target on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research note on Saturday, July 22nd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price target on the stock in a research note on Tuesday, July 25th. UBS AG reissued an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and lifted their price target for the stock from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Finally, FBR & Co reissued an “outperform” rating and issued a $1,050.00 price target (up previously from $1,032.00) on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $1,053.45.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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