VCI Wealth Management LLC Takes $363,000 Position in Alphabet Inc. (NASDAQ:GOOG)

VCI Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,574 shares of the information services provider’s stock, valued at approximately $363,000.

Other hedge funds also recently added to or reduced their stakes in the company. Veracity Capital LLC grew its position in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares during the period. Independence Bank of Kentucky lifted its stake in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares in the last quarter. Washington Trust Bank lifted its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares in the last quarter. CNB Bank lifted its stake in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC lifted its stake in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James upped their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

NASDAQ GOOG opened at $173.69 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.42. The business’s 50-day moving average price is $149.12 and its 200 day moving average price is $142.75. The firm has a market cap of $2.16 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 6.79 earnings per share for the current year.

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.