Investment Centers of America Inc. lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 61.4% in the third quarter, HoldingsChannel reports. The firm owned 981 shares of the information services provider’s stock after selling 1,563 shares during the period. Investment Centers of America Inc.’s holdings in Alphabet were worth $948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after acquiring an additional 832 shares during the last quarter. Almanack Investment Partners LLC. grew its holdings in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after acquiring an additional 7 shares during the last quarter. Finally, Catamount Wealth Management grew its holdings in Alphabet by 5.8% during the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

Alphabet Inc (NASDAQ GOOG) opened at $1,051.94 on Tuesday. Alphabet Inc has a one year low of $803.37 and a one year high of $1,186.89. The firm has a market cap of $721,031.94, a P/E ratio of 58.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the previous year, the business earned $9.36 EPS. The firm’s revenue was up 24.0% compared to the same quarter last year.

Alphabet announced that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

A number of equities research analysts have commented on GOOG shares. Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Stifel Nicolaus reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Societe Generale reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $1,061.93.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the sale, the chief executive officer now directly owns 949 shares in the company, valued at approximately $968,634.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Grier Campbell sold 184 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total transaction of $186,329.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,671 shares of company stock worth $45,613,302 in the last three months. 13.92% of the stock is owned by insiders.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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