Venturi Wealth Management LLC Buys 1,556 Shares of Alphabet Inc. $GOOGL

Venturi Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,068 shares of the information services provider’s stock after acquiring an additional 1,556 shares during the period. Alphabet comprises approximately 2.1% of Venturi Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Venturi Wealth Management LLC’s holdings in Alphabet were worth $45,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in Alphabet in the second quarter valued at approximately $31,000. Corsicana & Co. bought a new position in shares of Alphabet during the 3rd quarter valued at $54,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 89 shares during the last quarter. Finally, S&T Bank PA boosted its holdings in Alphabet by 40.2% in the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the completion of the transaction, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 189,909 shares of company stock valued at $57,927,282. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on GOOGL shares. BMO Capital Markets boosted their price target on Alphabet from $340.00 to $343.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. President Capital raised their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Citic Securities boosted their target price on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Evercore ISI increased their price target on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group set a $390.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.31.

View Our Latest Research Report on GOOGL

Alphabet Trading Down 0.8%

Shares of Alphabet stock opened at $330.00 on Tuesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $340.49. The company’s fifty day simple moving average is $312.13 and its 200-day simple moving average is $256.45. The company has a market cap of $3.98 trillion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.82 and a beta of 1.08. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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