VCI Wealth Management LLC Acquires 3,909 Shares of Alphabet Inc. $GOOG

VCI Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,248 shares of the information services provider’s stock after purchasing an additional 3,909 shares during the quarter. Alphabet makes up approximately 2.4% of VCI Wealth Management LLC’s holdings, 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.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $26,000. IFS Advisors LLC boosted its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Finally, Fairman Group LLC raised its position in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.73 on Friday. 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 price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company’s 50 day moving average price is $236.22 and its two-hundred day moving average price is $195.53. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88.

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

Insider Activity

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Jefferies Financial Group increased their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $246.26.

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.