Capital Investment Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Capital Investment Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,380 shares of the information services provider’s stock after acquiring an additional 749 shares during the period. Capital Investment Advisors LLC’s holdings in Alphabet were worth $3,070,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Brookstone Capital Management increased its position in Alphabet by 3.8% during the second quarter. Brookstone Capital Management now owns 46,802 shares of the information services provider’s stock valued at $5,623,000 after acquiring an additional 1,727 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Alphabet by 4.0% during the 2nd quarter. Kathmere Capital Management LLC now owns 5,686 shares of the information services provider’s stock worth $688,000 after purchasing an additional 220 shares during the period. Gradient Investments LLC grew its holdings in Alphabet by 4.7% during the 2nd quarter. Gradient Investments LLC now owns 335,056 shares of the information services provider’s stock valued at $40,532,000 after purchasing an additional 15,030 shares during the last quarter. Drake & Associates LLC raised its position in Alphabet by 21.8% in the 2nd quarter. Drake & Associates LLC now owns 3,665 shares of the information services provider’s stock worth $443,000 after purchasing an additional 657 shares during the period. Finally, Castle Rock Wealth Management LLC lifted its stake in Alphabet by 15.3% in the second quarter. Castle Rock Wealth Management LLC now owns 19,928 shares of the information services provider’s stock worth $2,444,000 after purchasing an additional 2,645 shares during the last quarter. 27.13% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $138.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a 50 day moving average price of $130.22 and a 200-day moving average price of $118.50. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $139.93. The stock has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a PEG ratio of 1.59 and a beta of 1.06.

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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. Alphabet’s revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Robert W. Baird increased their price target on Alphabet from $123.00 to $140.00 in a report 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. Susquehanna boosted their target price on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Wedbush initiated coverage on shares of Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating on the stock. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $130.94.

About Alphabet

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.