Virginia Wealth Management Group Inc. Acquires 100 Shares of Alphabet Inc. $GOOGL

Virginia Wealth Management Group Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Virginia Wealth Management Group Inc.’s holdings in Alphabet were worth $388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Missouri Trust & Investment Co increased its holdings in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC increased its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth increased its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Park Capital Management LLC WI increased its holdings in Alphabet by 1.1% in the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock worth $1,058,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Barclays increased their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. DA Davidson increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $201.00 price objective on shares of Alphabet in a report on Wednesday, September 24th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 11.64% of the stock is currently owned by insiders.

Alphabet Trading Up 0.3%

GOOGL stock opened at $245.69 on Friday. The firm has a fifty day moving average price of $220.21 and a 200 day moving average price of $185.22. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

About Alphabet

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.