Alphabet Inc. (NASDAQ:GOOG) is Capital Investment Counsel Inc’s 8th Largest Position

Capital Investment Counsel Inc boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,526 shares of the information services provider’s stock after acquiring an additional 7,045 shares during the quarter. Alphabet accounts for about 2.6% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 8th largest holding. Capital Investment Counsel Inc’s holdings in Alphabet were worth $15,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $26,000. Tandem Wealth Advisors LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,209 shares of company stock valued at $36,711,144. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 3.3 %

GOOG stock opened at $167.90 on Tuesday. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.09 trillion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The business has a 50 day moving average of $149.64 and a 200 day moving average of $142.97.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts forecast that Alphabet Inc. will post 6.8 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $165.67.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.