Capital Investment Advisory Services LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Capital Investment Advisory Services LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,149 shares of the information services provider’s stock after selling 936 shares during the quarter. Alphabet makes up approximately 1.0% of Capital Investment Advisory Services LLC’s holdings, making the stock its 17th biggest holding. Capital Investment Advisory Services LLC’s holdings in Alphabet were worth $10,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Veracity Capital LLC increased its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky increased its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the period. Washington Trust Bank increased its holdings in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after buying an additional 1,826 shares during the period. CNB Bank increased its holdings in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after buying an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC grew its holdings in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $159.92 on Wednesday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The firm has a fifty day simple moving average of $147.92 and a 200-day simple moving average of $142.27. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.99 trillion, a P/E ratio of 27.57, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOOG shares. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus price target of $159.86.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last three months. Company insiders own 12.99% of the company’s stock.

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.