Victory Capital Management Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,438,492 shares of the information services provider’s stock after selling 25,241 shares during the period. Alphabet comprises about 0.6% of Victory Capital Management Inc.’s holdings, making the stock its 10th largest position. Victory Capital Management Inc.’s holdings in Alphabet were worth $531,287,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of GOOGL. Modera Wealth Management LLC grew its position in shares of Alphabet by 11.4% in the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after buying an additional 4,420 shares during the last quarter. Atria Investments Inc increased its position in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after buying an additional 21,907 shares during the period. Cadent Capital Advisors LLC lifted its stake in Alphabet by 3.4% in the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after buying an additional 136 shares during the last quarter. Hallmark Capital Management Inc. boosted its holdings in shares of Alphabet by 8.9% in the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after acquiring an additional 13,605 shares during the period. Finally, Marcum Wealth LLC grew its position in shares of Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after acquiring an additional 927 shares during the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on GOOGL. Stifel Nicolaus increased their price target on shares of Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Citigroup increased their target price on shares of Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. 51job restated a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Finally, Susquehanna reiterated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a research note on Thursday, August 31st. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.27.
Alphabet Stock Performance
NASDAQ GOOGL opened at $135.60 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $141.22. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 28.73, a P/E/G ratio of 1.55 and a beta of 1.06. The business’s 50-day simple moving average is $134.28 and its 200-day simple moving average is $124.24.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current year.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The disclosure for this sale can be found here. Insiders have sold a total of 101,091 shares of company stock worth $13,530,462 over the last quarter. 0.88% of the stock is owned by corporate insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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