Capital Investment Services of America Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,645 shares of the information services provider’s stock after selling 142 shares during the period. Alphabet comprises approximately 2.0% of Capital Investment Services of America Inc.’s holdings, making the stock its 23rd largest position. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $11,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Trust Co grew its position in Alphabet by 1.0% in the first quarter. Trust Co now owns 5,110 shares of the information services provider’s stock worth $4,239,000 after acquiring an additional 51 shares in the last quarter. Norman Fields Gottscho Capital Management LLC grew its position in Alphabet by 1.9% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 2,150 shares of the information services provider’s stock worth $1,954,000 after acquiring an additional 40 shares in the last quarter. Curbstone Financial Management Corp grew its position in Alphabet by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 1,587 shares of the information services provider’s stock worth $1,442,000 after acquiring an additional 10 shares in the last quarter. Centre Asset Management LLC grew its position in Alphabet by 2.3% in the second quarter. Centre Asset Management LLC now owns 12,699 shares of the information services provider’s stock worth $11,540,000 after acquiring an additional 280 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Alphabet by 1.4% in the second quarter. Xact Kapitalforvaltning AB now owns 60,763 shares of the information services provider’s stock worth $55,217,000 after acquiring an additional 827 shares in the last quarter. 34.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (GOOG) traded down 0.22% on Monday, hitting $918.25. 475,003 shares of the stock traded hands. The stock has a 50 day moving average of $925.04 and a 200-day moving average of $907.53. The stock has a market cap of $636.24 billion, a PE ratio of 33.28 and a beta of 0.94. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.42 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current year.

Several analysts have commented on GOOG shares. MKM Partners reissued a “buy” rating and issued a $1,170.00 target price on shares of Alphabet in a research report on Wednesday, June 28th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Monday, July 17th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a target price on shares of Alphabet in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $1,031.14.

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In other news, Director Ann Mather sold 37 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the sale, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $955.25, for a total value of $3,821,000.00. Following the completion of the sale, the chief executive officer now owns 1,683 shares in the company, valued at $1,607,685.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,680 shares of company stock worth $43,521,363. Company insiders own 13.92% of the company’s stock.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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