Capital Investment Services of America Inc. Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Capital Investment Services of America Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,313 shares of the information services provider’s stock after selling 195 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $7,220,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dravo Bay LLC bought a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. Financial Enhancement Group LLC bought a new stake in shares of Alphabet during the 1st quarter valued at about $31,000. Wealthgate Family Office LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $32,000. Verity Asset Management Inc. boosted its position in shares of Alphabet by 536,206.4% during the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 589,827 shares during the last quarter. Finally, Greenspring Advisors LLC boosted its position in shares of Alphabet by 76.6% during the 1st quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold a total of 44,536 shares of company stock valued at $15,729,998 over the last ninety days. Company insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOGL shares. Morgan Stanley lifted their price target on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. William Blair restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, July 27th. Monness Crespi & Hardt dropped their target price on Alphabet to $145.00 in a research report on Tuesday, July 5th. Credit Suisse Group dropped their target price on Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Susquehanna Bancshares dropped their target price on Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a research report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.41.

Alphabet Price Performance

Shares of GOOGL stock opened at $102.80 on Friday. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. The business’s fifty day moving average is $112.93 and its 200 day moving average is $118.84. Alphabet Inc. has a twelve month low of $100.94 and a twelve month high of $151.55. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

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

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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