Capital Investment Advisors LLC Buys 391 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Capital Investment Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,487 shares of the information services provider’s stock after acquiring an additional 391 shares during the quarter. Alphabet comprises approximately 1.3% of Capital Investment Advisors LLC’s holdings, making the stock its 15th largest holding. Capital Investment Advisors LLC’s holdings in Alphabet were worth $38,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GW Henssler & Associates Ltd. increased its holdings in Alphabet by 3.5% in the 1st quarter. GW Henssler & Associates Ltd. now owns 10,307 shares of the information services provider’s stock valued at $28,667,000 after buying an additional 351 shares during the period. Bay Rivers Group increased its holdings in Alphabet by 5.9% in the 1st quarter. Bay Rivers Group now owns 1,418 shares of the information services provider’s stock valued at $3,944,000 after buying an additional 79 shares during the period. Pinnacle Wealth Management Group Inc. increased its holdings in Alphabet by 2.6% in the 1st quarter. Pinnacle Wealth Management Group Inc. now owns 390 shares of the information services provider’s stock valued at $1,085,000 after buying an additional 10 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Alphabet by 4.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 40,211 shares of the information services provider’s stock valued at $111,841,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Landmark Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $312,000. Institutional investors own 1.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. Credit Suisse Group reduced their target price on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Guggenheim reduced their target price on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Barclays reduced their target price on shares of Alphabet from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 5th. JMP Securities reduced their target price on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 30th. Finally, Piper Sandler reduced their target price on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Stock Performance

Shares of GOOGL stock opened at $102.80 on Friday. The stock has a 50-day moving average of $112.93 and a 200-day moving average of $118.84. Alphabet Inc. has a one year low of $100.94 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The stock has a market cap of $1.34 trillion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the previous year, the company posted $27.26 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the sale, the director now directly owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 280 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $115.15, for a total transaction of $32,242.00. Following the completion of the transaction, the director now owns 11,420 shares of the company’s stock, valued at approximately $1,315,013. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the transaction, the director now directly owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The disclosure for this sale can be found here. In the last three months, insiders sold 44,536 shares of company stock valued at $15,729,998. 11.44% of the stock is owned by corporate insiders.

About Alphabet

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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