Capital Investment Counsel LLC Has $1.14 Million Stake in Alphabet Inc. $GOOG

Capital Investment Counsel LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,446 shares of the information services provider’s stock after selling 915 shares during the period. Capital Investment Counsel LLC’s holdings in Alphabet were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GOOG. RDA Financial Network boosted its position in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC bought a new position in shares of Alphabet in the 2nd quarter worth $213,000. Tower View Wealth Management LLC boosted its position in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. boosted its position in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 2.4%

Shares of NASDAQ:GOOG opened at $281.90 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $243.09 and its 200 day simple moving average is $199.85. The firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Finally, Mizuho set a $325.00 target price on shares of Alphabet in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.