Vise Technologies Inc. Invests $70.95 Million in Alphabet Inc. $GOOGL

Vise Technologies Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 226,667 shares of the information services provider’s stock, valued at approximately $70,947,000. Alphabet comprises about 2.2% of Vise Technologies Inc.’s investment portfolio, making the stock its 11th largest position.

A number of other institutional investors have also recently bought and sold shares of GOOGL. PMV Capital Advisers LLC acquired a new stake in Alphabet during the fourth quarter valued at $38,000. Kentucky Trust Co boosted its position in Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Alphabet during the third quarter valued at $53,000. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet during the fourth quarter valued at $69,000. Finally, WHI TRUST Co LLC acquired a new stake in Alphabet during the fourth quarter valued at $72,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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Alphabet Trading Down 2.2%

Shares of GOOGL opened at $356.38 on Thursday. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.32 trillion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.56 and a beta of 1.23. The stock’s 50-day moving average price is $357.80 and its 200 day moving average price is $329.64.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, research analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOGL. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the company a “buy” rating in a report on Thursday, April 30th. New Street Research raised their target price on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, June 5th. Wolfe Research cut their target price on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Evercore raised their target price on Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Loop Capital raised their target price on Alphabet from $355.00 to $490.00 and gave the company a “buy” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Check Out Our Latest Report on Alphabet

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 193,016 shares of company stock worth $17,282,549 over the last ninety days. 11.61% of the stock is owned by insiders.

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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