Vivid Wealth Management LLC Invests $3.92 Million in Alphabet Inc. (NASDAQ:GOOGL)

Vivid Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, HoldingsChannel reports. The fund bought 28,032 shares of the information services provider’s stock, valued at approximately $3,916,000. Alphabet makes up 2.7% of Vivid Wealth Management LLC’s portfolio, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Alphabet by 0.3% in the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after buying an additional 1,302,104 shares during the period. FMR LLC boosted its position in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. State Street Corp boosted its position in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after buying an additional 1,499,107 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Mizuho lifted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Wolfe Research lifted their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Roth Mkm reduced their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial reduced their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,839 shares of company stock worth $32,835,757. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Down 0.3 %

Alphabet stock opened at $154.40 on Wednesday. The business has a 50 day moving average price of $145.76 and a two-hundred day moving average price of $140.19. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Alphabet Company Profile

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