Capital Investment Services of America Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,392 shares of the company’s stock after selling 257 shares during the period. Capital Investment Services of America Inc.’s holdings in Alphabet were worth $6,748,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the period. Archford Capital Strategies LLC raised its stake in Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the period. Roble Belko & Company Inc raised its stake in Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the period. MCF Advisors LLC raised its stake in Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the period. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Alphabet during the second quarter worth about $117,000. 34.63% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.53% during midday trading on Tuesday, reaching $789.99. 1,189,690 shares of the company traded hands. Alphabet Inc. has a 12 month low of $672.66 and a 12 month high of $839.00. The firm’s 50 day moving average price is $799.78 and its 200 day moving average price is $772.81. The firm has a market capitalization of $544.49 billion, a price-to-earnings ratio of 28.91 and a beta of 0.92.

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Several research analysts recently weighed in on the company. MKM Partners set a $935.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Monday, August 1st. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $930.00 price target (up from $810.00) on shares of Alphabet in a research report on Monday, August 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $950.00 price target (up from $920.00) on shares of Alphabet in a research report on Monday, August 1st. B. Riley restated a “buy” rating and set a $950.00 price target on shares of Alphabet in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $896.00 price target for the company in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $940.44.

About Alphabet

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.

5 Day Chart for NASDAQ:GOOGL

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