Alphabet Inc. $GOOG Shares Sold by Capital Investment Counsel LLC

Capital Investment Counsel LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. ACT Advisors LLC. boosted its stake in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC boosted its stake in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 55 shares during the period. LongView Wealth Management raised its stake in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates raised its stake in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. Finally, Greenup Street Wealth Management LLC lifted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after acquiring an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Rosenblatt Securities set a $279.00 target price on Alphabet in a research report on Thursday. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Trading Up 2.4%

GOOG stock opened at $281.90 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $243.09 and its 200-day moving average is $199.85. The firm has a market cap of $3.41 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00.

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.