VCI Wealth Management LLC Has $6.79 Million Holdings in Alphabet Inc. $GOOG

VCI Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,248 shares of the information services provider’s stock after purchasing an additional 3,909 shares during the period. Alphabet comprises approximately 2.4% of VCI Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. VCI Wealth Management LLC’s holdings in Alphabet were worth $6,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOG shares. Scotiabank reissued an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $246.26.

Alphabet Stock Up 0.5%

GOOG opened at $253.73 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. 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 company has a market capitalization of $3.07 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.70 and a beta of 1.00. The stock has a fifty day moving average of $236.22 and a 200-day moving average of $195.53.

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

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.