Vision Financial Markets LLC Buys 618 Shares of Alphabet Inc. (NASDAQ:GOOG)

Vision Financial Markets LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 16.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,288 shares of the information services provider’s stock after acquiring an additional 618 shares during the period. Alphabet accounts for approximately 0.7% of Vision Financial Markets LLC’s holdings, making the stock its 27th largest position. Vision Financial Markets LLC’s holdings in Alphabet were worth $670,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Wellspring Financial Advisors LLC lifted its position in Alphabet by 3.7% during the fourth quarter. Wellspring Financial Advisors LLC now owns 12,188 shares of the information services provider’s stock worth $2,322,000 after acquiring an additional 435 shares during the last quarter. Concentrum Wealth Management lifted its position in Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock worth $3,300,000 after acquiring an additional 57 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Alphabet by 5.0% during the fourth quarter. Invesco Ltd. now owns 19,939,547 shares of the information services provider’s stock worth $3,797,287,000 after acquiring an additional 944,858 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated 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. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock worth $43,525,794 in the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Price Performance

GOOG stock opened at $195.75 on Tuesday. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company’s fifty day simple moving average is $179.89 and its 200 day simple moving average is $174.38.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

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.