VCI Wealth Management LLC Takes $268,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

VCI Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,918 shares of the information services provider’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Aire Advisors LLC lifted its stake in shares of Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares during the period. Defined Wealth Management LLC lifted its stake in shares of Alphabet by 2.9% in the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares during the period. WealthCare Investment Partners LLC lifted its stake in shares of Alphabet by 2.1% in the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after purchasing an additional 71 shares during the period. Peoples Financial Services CORP. lifted its stake in shares of Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after purchasing an additional 72 shares during the period. Finally, RAM Investment Partners LLC lifted its stake in shares of Alphabet by 1.0% in the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after purchasing an additional 73 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOGL. KeyCorp boosted their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Argus boosted their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays boosted their target price on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Truist Financial boosted their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,129 shares of company stock valued at $40,382,765. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.4 %

Alphabet stock opened at $167.24 on Friday. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.26 and a beta of 1.02. The firm has a 50 day simple moving average of $149.67 and a 200 day simple moving average of $142.12. Alphabet Inc. has a 1-year low of $103.97 and a 1-year high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business earned $1.17 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet 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.