Trade Report: Today, Investment Centers of America Inc. cuts its investment of stake in Alphabet Inc. (GOOG)

Today, Investment Centers of America Inc. cuts its investment of stake in Alphabet Inc. (GOOG)

Investment Centers of America Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 36.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 872 shares of the company’s stock after selling 496 shares during the period. Investment Centers of America Inc.’s holdings in Alphabet were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Hyman Charles D bought a new stake in shares of Alphabet during the first quarter worth $289,000. ICM Asset Management Inc. WA purchased a new position in shares of Alphabet during the first quarter valued at about $480,000. Compton Capital Management Inc. RI boosted its position in shares of Alphabet by 1.0% in the first quarter. Compton Capital Management Inc. RI now owns 5,590 shares of the company’s stock valued at $4,164,000 after buying an additional 58 shares during the last quarter. Badgley Phelps & Bell Inc. boosted its position in shares of Alphabet by 2.1% in the first quarter. Badgley Phelps & Bell Inc. now owns 12,430 shares of the company’s stock valued at $9,260,000 after buying an additional 257 shares during the last quarter. Finally, Virginia Retirement System purchased a new position in shares of Alphabet during the first quarter valued at about $73,437,000. Institutional investors and hedge funds own 34.39% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 on Monday. The firm has a market cap of $535.06 billion, a price-to-earnings ratio of 30.17 and a beta of 1.03. The stock’s 50 day moving average is $774.66 and its 200 day moving average is $741.88. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Alphabet’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.99 EPS. Equities analysts expect that Alphabet Inc. will post $34.14 earnings per share for the current year.

Several brokerages have recently issued reports on GOOG. Credit Suisse Group AG restated an “outperform” rating and issued a $940.00 price objective (up from $920.00) on shares of Alphabet in a research note on Friday, July 29th. Evercore ISI reiterated a “buy” rating and set a $830.00 price target (down from $950.00) on shares of Alphabet in a research report on Thursday, June 23rd. Atlantic Securities set a $910.00 price target on Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price target for the company in a research report on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 price target on Alphabet and gave the company a “buy” rating in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $926.55.

In related news, CEO Lawrence Page sold 33,332 shares of Alphabet stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $748.02, for a total transaction of $24,933,002.64. Following the completion of the sale, the chief executive officer now owns 30,666 shares of the company’s stock, valued at approximately $22,938,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the completion of the sale, the chief executive officer now directly owns 3,297 shares of the company’s stock, valued at approximately $2,437,175.37. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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