JCIC Asset Management Inc. Sells 59 Shares of Alphabet Inc. (NASDAQ:GOOG)

JCIC Asset Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 6,750 shares of the information services provider’s stock after selling 59 shares during the period. Alphabet accounts for approximately 5.9% of JCIC Asset Management Inc.’s holdings, making the stock its 2nd largest position. JCIC Asset Management Inc.’s holdings in Alphabet were worth $17,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Saban Cheryl acquired a new stake in Alphabet during the 2nd quarter worth $25,000. Laurel Wealth Planning LLC raised its stake in Alphabet by 450.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock worth $28,000 after acquiring an additional 9 shares in the last quarter. True Link Financial Advisors LLC acquired a new stake in Alphabet during the 2nd quarter worth $33,000. Corsicana & Co. acquired a new stake in Alphabet during the 2nd quarter worth $50,000. Finally, Selective Wealth Management Inc. raised its stake in Alphabet by 29.4% during the 2nd quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock worth $55,000 after acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds own 31.26% of the company’s stock.

GOOG stock traded down $0.79 during trading on Thursday, reaching $2,934.35. 823,203 shares of the company were exchanged, compared to its average volume of 1,279,240. The company has a market cap of $1.95 trillion, a P/E ratio of 28.26, a PEG ratio of 1.07 and a beta of 1.04. Alphabet Inc. has a 52-week low of $1,699.00 and a 52-week high of $3,037.00. The stock’s 50 day moving average price is $2,859.80 and its 200 day moving average price is $2,705.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 2.98.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. The firm had revenue of $65.12 billion for the quarter, compared to the consensus estimate of $63.35 billion. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The firm’s revenue was up 41.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $16.40 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 107.86 EPS for the current year.

Several equities research analysts recently commented on GOOG shares. Royal Bank of Canada started coverage on shares of Alphabet in a research note on Friday, October 1st. They set an “outperform” rating and a $3,400.00 price target on the stock. Guggenheim lifted their price objective on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Raymond James lifted their price objective on shares of Alphabet from $3,200.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. They noted that the move was a valuation call. Susquehanna Bancshares lifted their price objective on shares of Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Finally, Truist lifted their price objective on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Two analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $3,178.21.

In other Alphabet news, major shareholder Capitalg 2014 Lp sold 44,100 shares of the company’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $39.14, for a total value of $1,726,074.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $3,802.28, for a total transaction of $760,456.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,928 shares of company stock worth $501,867,436. 12.99% of the stock is owned by insiders.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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