Vectors Research Management LLC Makes New $1.90 Million Investment in Alphabet Inc. $GOOGL

Vectors Research Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,824 shares of the information services provider’s stock, valued at approximately $1,902,000.

Other large investors have also made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in Alphabet during the second quarter worth $31,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. Corsicana & Co. acquired a new stake in Alphabet in the 3rd quarter worth approximately $54,000. Vermillion & White Wealth Management Group LLC boosted its position in Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the period. Finally, S&T Bank PA grew its holdings in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.7%

Shares of NASDAQ GOOGL opened at $338.25 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $342.29. The firm’s 50-day simple moving average is $319.46 and its 200 day simple moving average is $263.90. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.08 trillion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the sale, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This trade represents a 23.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $337.52, for a total value of $202,512.00. Following the sale, the director owned 21,224 shares of the company’s stock, valued at approximately $7,163,524.48. The trade was a 2.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,297 shares of company stock valued at $68,531,851 over the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on GOOGL shares. BNP Paribas Exane assumed coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 target price on the stock. Evercore ISI lifted their price objective on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Wedbush raised their price objective on shares of Alphabet from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Oppenheimer lifted their price objective on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $340.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Four investment analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $334.60.

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About Alphabet

(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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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