Capital Investment Advisors LLC Buys 11,886 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Capital Investment Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,702 shares of the information services provider’s stock after purchasing an additional 11,886 shares during the quarter. Alphabet comprises about 1.3% of Capital Investment Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Capital Investment Advisors LLC’s holdings in Alphabet were worth $64,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Financial Services LTD. raised its holdings in Alphabet by 7.4% in the first quarter. Howard Financial Services LTD. now owns 7,080 shares of the information services provider’s stock worth $1,069,000 after purchasing an additional 489 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in Alphabet by 0.5% during the first quarter. Indiana Trust & Investment Management CO now owns 48,914 shares of the information services provider’s stock worth $7,383,000 after acquiring an additional 261 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in Alphabet by 7.1% in the first quarter. Capital Asset Advisory Services LLC now owns 55,493 shares of the information services provider’s stock valued at $8,463,000 after acquiring an additional 3,672 shares during the period. Register Financial Advisors LLC increased its holdings in shares of Alphabet by 19.8% in the first quarter. Register Financial Advisors LLC now owns 2,422 shares of the information services provider’s stock worth $366,000 after acquiring an additional 400 shares in the last quarter. Finally, LongView Wealth Management raised its position in shares of Alphabet by 2.6% during the first quarter. LongView Wealth Management now owns 6,192 shares of the information services provider’s stock worth $935,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $166.72 on Tuesday. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. The business’s 50 day simple moving average is $161.95 and its 200 day simple moving average is $168.65. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.06 trillion, a PE ratio of 25.57, a PEG ratio of 1.27 and a beta of 1.04.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 over the last ninety days. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Truist Financial lifted their price objective on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI reduced their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

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