Alphabet Inc. $GOOG is Capital Investment Counsel Inc’s 7th Largest Position

Capital Investment Counsel Inc grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,598 shares of the information services provider’s stock after purchasing an additional 5,231 shares during the period. Alphabet makes up 2.7% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 7th largest holding. Capital Investment Counsel Inc’s holdings in Alphabet were worth $19,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GOOG. Vanguard Group Inc. raised its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. Geode Capital Management LLC raised its holdings in Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Deutsche Bank AG lifted its position in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the period. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. DA Davidson set a $825.00 target price on shares of Alphabet in a report on Monday, October 27th. Finally, Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Down 2.9%

Shares of Alphabet stock opened at $279.12 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.37 trillion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $292.36. The company has a 50-day simple moving average of $257.00 and a two-hundred day simple moving average of $208.69.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.