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

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Capital Investment Services of America Inc. lowered its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,214 shares of the information services provider’s stock after selling 309 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $6,367,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOGL. CMH Wealth Management LLC lifted its position in shares of Alphabet by 30.1% in the third quarter. CMH Wealth Management LLC now owns 4,867 shares of the information services provider’s stock valued at $5,943,000 after acquiring an additional 1,125 shares in the last quarter. Rothschild Investment Corp IL lifted its position in shares of Alphabet by 5.3% in the third quarter. Rothschild Investment Corp IL now owns 9,686 shares of the information services provider’s stock valued at $11,828,000 after acquiring an additional 489 shares in the last quarter. Successful Portfolios LLC lifted its position in shares of Alphabet by 16.6% in the third quarter. Successful Portfolios LLC now owns 1,034 shares of the information services provider’s stock valued at $1,263,000 after acquiring an additional 147 shares in the last quarter. KG&L Capital Management LLC lifted its position in shares of Alphabet by 17.1% in the third quarter. KG&L Capital Management LLC now owns 1,074 shares of the information services provider’s stock valued at $1,311,000 after acquiring an additional 157 shares in the last quarter. Finally, Camden National Bank lifted its position in shares of Alphabet by 5.4% in the third quarter. Camden National Bank now owns 371 shares of the information services provider’s stock valued at $453,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 33.50% of the company’s stock.

GOOGL has been the subject of several recent research reports. Oppenheimer set a $1,370.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. Wedbush increased their price target on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Jefferies Financial Group increased their price target on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a report on Friday, July 26th. They noted that the move was a valuation call. SunTrust Banks reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Alphabet in a report on Monday, July 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $1,516.00 price target (up previously from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $1,375.78.

NASDAQ:GOOGL opened at $1,215.71 on Friday. The firm has a market cap of $842.97 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The stock has a fifty day moving average price of $1,206.68 and a 200 day moving average price of $1,174.16. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. Equities analysts forecast that Alphabet Inc will post 51.29 EPS for the current year.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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