Capital Investment Advisory Services LLC Purchases 70,898 Shares of Alphabet Inc. (NASDAQ:GOOG)

Capital Investment Advisory Services LLC increased its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,039.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,375 shares of the information services provider’s stock after purchasing an additional 70,898 shares during the period. Alphabet accounts for 0.9% of Capital Investment Advisory Services LLC’s portfolio, making the stock its 20th biggest position. Capital Investment Advisory Services LLC’s holdings in Alphabet were worth $7,151,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after purchasing an additional 17,365,189 shares during the last quarter. Nordea Investment Management AB raised its stake in Alphabet by 1,899.8% during the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock valued at $654,531,000 after buying an additional 6,343,615 shares during the last quarter. Truist Financial Corp boosted its holdings in Alphabet by 1,861.3% in the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after acquiring an additional 4,260,344 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 4,012,010 shares of the information services provider’s stock worth $8,776,073,000 after acquiring an additional 252,657 shares during the last quarter. Finally, AMF Tjanstepension AB increased its holdings in shares of Alphabet by 1,615.7% during the third quarter. AMF Tjanstepension AB now owns 3,047,090 shares of the information services provider’s stock valued at $292,978,000 after acquiring an additional 2,869,490 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of NASDAQ:GOOG opened at $92.16 on Wednesday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The company has a market cap of $1.19 trillion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock has a 50 day moving average of $93.38 and a 200 day moving average of $102.47. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same period last year, the company earned $1.40 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 4.68 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Cowen dropped their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 21st. UBS Group set a $115.00 price objective on shares of Alphabet in a report on Thursday, January 12th. Cowen cut their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Finally, Societe Generale decreased their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.88.

Alphabet Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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