Alphabet Inc. (NASDAQ:GOOG) Stake Decreased by Icapital Wealth LLC

Icapital Wealth LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,062 shares of the information services provider’s stock after selling 340 shares during the period. Alphabet accounts for about 2.3% of Icapital Wealth LLC’s investment portfolio, making the stock its 12th biggest holding. Icapital Wealth LLC’s holdings in Alphabet were worth $5,628,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at $2,249,092,000. TD Asset Management Inc. grew its holdings in shares of Alphabet by 62.0% during the 4th quarter. TD Asset Management Inc. now owns 890,592 shares of the information services provider’s stock valued at $2,577,008,000 after acquiring an additional 340,733 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $754,814,000. SkyView Investment Advisors LLC grew its holdings in shares of Alphabet by 20,160.8% during the 4th quarter. SkyView Investment Advisors LLC now owns 240,901 shares of the information services provider’s stock valued at $3,848,000 after acquiring an additional 239,712 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Alphabet by 1.1% during the 4th quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock valued at $55,545,866,000 after acquiring an additional 205,225 shares in the last quarter. 31.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOG opened at $2,240.68 on Thursday. The company has a 50-day simple moving average of $2,308.00 and a 200-day simple moving average of $2,604.33. The firm has a market capitalization of $1.48 trillion, a P/E ratio of 20.27, a P/E/G ratio of 1.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a 52 week low of $2,044.16 and a 52 week high of $3,042.00.

Alphabet’s stock is set to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The company had revenue of $56.02 billion for the quarter, compared to analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the prior year, the company posted $26.29 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 110.83 earnings per share for the current year.

Several equities analysts have recently commented on GOOG shares. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Canaccord Genuity Group decreased their price objective on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Tigress Financial upped their price objective on shares of Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. Oppenheimer reiterated an “outperform” rating and issued a $3,290.00 price objective on shares of Alphabet in a report on Thursday, April 28th. Finally, Raymond James decreased their price objective on shares of Alphabet from $3,630.00 to $3,180.00 in a report on Wednesday, April 27th. Twenty-nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $3,315.38.

In other Alphabet news, SVP Prabhakar Raghavan sold 1,276 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the sale, the senior vice president now directly owns 14,034 shares of the company’s stock, valued at $39,526,620.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 33 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the sale, the director now directly owns 78 shares in the company, valued at $183,174.42. The disclosure for this sale can be found here. In the last three months, insiders sold 551,675 shares of company stock worth $25,567,428. 12.99% of the stock is currently owned by insiders.

About Alphabet (Get Rating)

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

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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