Violich Capital Management Inc. Has $51.80 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Violich Capital Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,983 shares of the information services provider’s stock after purchasing an additional 473 shares during the quarter. Alphabet comprises approximately 7.0% of Violich Capital Management Inc.’s holdings, making the stock its 5th largest position. Violich Capital Management Inc.’s holdings in Alphabet were worth $51,802,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $39,000. Elite Financial Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $49,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $49,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC raised their price target on Alphabet from $178.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Citigroup reaffirmed a “buy” rating and set a $203.00 price target (up from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $203.19.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock valued at $43,523,710. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $191.34 on Wednesday. The company’s 50-day moving average price is $172.90 and its 200-day moving average price is $172.89. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.32 trillion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the company earned $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.