Capital Investment Services of America Inc. Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Capital Investment Services of America Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,313 shares of the information services provider’s stock after selling 195 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $7,220,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. State Street Corp grew its holdings in Alphabet by 1.4% during the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after buying an additional 157,280 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at approximately $14,477,662,000. Aaron Wealth Advisors LLC grew its holdings in Alphabet by 699,790.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Alphabet by 14.1% during the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after buying an additional 283,907 shares in the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Insider Activity

In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ann Mather sold 20 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at $3,484,117.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.1 %

Shares of NASDAQ:GOOGL opened at $102.80 on Friday. Alphabet Inc. has a 12-month low of $100.94 and a 12-month high of $151.55. The business’s fifty day simple moving average is $112.93 and its 200-day simple moving average is $118.84. The company has a market capitalization of $1.34 trillion, a PE ratio of 19.13, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. During the same quarter in the prior year, the business posted $27.26 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Jefferies Financial Group cut their price target on Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Bank of America cut their price target on Alphabet from $132.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Susquehanna Bancshares cut their price target on Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a report on Wednesday, July 27th. Exane BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 20th. Finally, JMP Securities cut their price target on Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

About Alphabet

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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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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