Capital Investment Services of America Inc. Has $28.77 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Capital Investment Services of America Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,787 shares of the information services provider’s stock after acquiring an additional 705 shares during the period. Alphabet comprises approximately 3.1% of Capital Investment Services of America Inc.’s portfolio, making the stock its 9th biggest holding. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $28,765,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. DC Investments Management LLC purchased a new position in Alphabet in the first quarter valued at approximately $115,000. Guardian Wealth Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth $184,000. Turim 21 Investimentos Ltda. lifted its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. qPULA Trading Management LP purchased a new stake in shares of Alphabet during the first quarter worth $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after acquiring an additional 26 shares in the last quarter. 27.13% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $138.96 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $130.22 and a 200-day moving average of $118.50. The firm has a market cap of $1.75 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $139.93.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. Alphabet’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, insider John Kent Walker sold 42,900 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now directly owns 10,383 shares in the company, valued at $1,417,383.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,092 shares of company stock worth $12,221,941. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOG. Wedbush began coverage on shares of Alphabet in a report on Monday, August 21st. They issued an “outperform” rating on the stock. Robert W. Baird increased their target price on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Oppenheimer increased their target price on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Finally, Susquehanna increased their target price on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $130.94.

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.