Veery Capital LLC Purchases 611 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Veery Capital LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,437 shares of the information services provider’s stock after purchasing an additional 611 shares during the quarter. Veery Capital LLC’s holdings in Alphabet were worth $532,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GOOGL. JPMorgan Chase & Co. increased its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. increased its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares during the last quarter. Capital & Planning LLC increased its position in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock valued at $830,000 after purchasing an additional 1,119 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after acquiring an additional 371 shares during the period. Finally, Brighton Jones LLC boosted its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,533 shares of company stock worth $26,772,774. 11.55% of the stock is owned by insiders.

Alphabet Stock Down 1.2%

Shares of NASDAQ:GOOGL opened at $169.73 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 21.08, a P/E/G ratio of 1.34 and a beta of 1.01. The stock has a 50 day moving average price of $159.10 and a 200-day moving average price of $174.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Alphabet Company 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.