Icapital Wealth LLC Has $5.63 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

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Icapital Wealth LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 14.2% during the first quarter, HoldingsChannel reports. The fund owned 2,062 shares of the information services provider’s stock after selling 340 shares during the period. Alphabet comprises about 2.3% of Icapital Wealth LLC’s investment portfolio, making the stock its 12th largest position. Icapital Wealth LLC’s holdings in Alphabet were worth $5,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. BlackRock Inc. grew its position in Alphabet by 1.1% in the fourth quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock valued at $55,545,866,000 after purchasing an additional 205,225 shares in the last quarter. State Street Corp grew its position in Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $30,696,262,000 after purchasing an additional 58,955 shares in the last quarter. Geode Capital Management LLC grew its position in Alphabet by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock valued at $13,474,847,000 after purchasing an additional 97,666 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 2.4% in the fourth quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock valued at $10,857,740,000 after purchasing an additional 87,144 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Alphabet by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 3,082,944 shares of the information services provider’s stock valued at $8,920,776,000 after purchasing an additional 48,928 shares in the last quarter. Institutional investors and hedge funds own 31.20% of the company’s stock.

In other Alphabet news, Director John L. Hennessy sold 33 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the transaction, the director now owns 78 shares in the company, valued at $183,174.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 551,675 shares of company stock worth $25,567,428. Insiders own 12.99% of the company’s stock.

Shares of Alphabet stock opened at $2,240.68 on Thursday. The firm has a market capitalization of $1.48 trillion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.09 and a beta of 1.13. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $2,308.00 and its 200 day moving average is $2,604.33. Alphabet Inc. has a 1 year low of $2,044.16 and a 1 year high of $3,042.00.

Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. During the same period last year, the firm posted $26.29 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 110.83 earnings per share for the current year.

A number of research analysts have recently commented on the stock. Raymond James decreased their price objective on shares of Alphabet from $3,630.00 to $3,180.00 in a research report on Wednesday, April 27th. Tigress Financial lifted their price objective on shares of Alphabet from $3,540.00 to $3,670.00 in a research report on Friday, March 18th. Canaccord Genuity Group decreased their price objective on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Oppenheimer reissued an “outperform” rating and issued a $3,290.00 price objective on shares of Alphabet in a research report on Thursday, April 28th. Finally, Wedbush reissued an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. Twenty-nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3,315.38.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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