Capital Investment Counsel Inc lowered its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,753 shares of the information services provider’s stock after selling 7,210 shares during the period. Alphabet accounts for about 2.0% of Capital Investment Counsel Inc’s holdings, making the stock its 10th largest holding. Capital Investment Counsel Inc’s holdings in Alphabet were worth $8,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Corrado Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. My Personal CFO LLC purchased a new stake in Alphabet during the 4th quarter valued at $34,000. Milestone Wealth LLC increased its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares in the last quarter. Lowe Wealth Advisors LLC raised its stake in shares of Alphabet by 187.5% in the fourth quarter. Lowe Wealth Advisors LLC now owns 460 shares of the information services provider’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, JDM Financial Group LLC bought a new position in shares of Alphabet during the fourth quarter valued at $46,000. Institutional investors own 27.17% of the company’s stock.
Alphabet Stock Performance
GOOG opened at $125.06 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.61 and a beta of 1.07. The company has a fifty day moving average of $122.02 and a 200 day moving average of $107.19. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55.
Insider Buying and Selling at Alphabet
In other news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 864,122 shares of company stock worth $29,751,580 in the last quarter. 12.99% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
GOOG has been the subject of a number of recent analyst reports. Oppenheimer decreased their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group increased their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.14.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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