Vectors Research Management LLC Buys 6,614 Shares of Alphabet Inc. $GOOGL

Vectors Research Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 63.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,050 shares of the information services provider’s stock after purchasing an additional 6,614 shares during the quarter. Alphabet makes up about 1.4% of Vectors Research Management LLC’s portfolio, making the stock its 17th largest holding. Vectors Research Management LLC’s holdings in Alphabet were worth $4,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the 4th quarter valued at $32,000. EMC Capital Management bought a new stake in Alphabet during the 4th quarter worth $33,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet during the 4th quarter worth $38,000. Bard Associates Inc. bought a new stake in Alphabet during the 4th quarter worth $52,000. Finally, Kentucky Trust Co raised its position in Alphabet by 142.9% in 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. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock valued at $7,672,279 over the last 90 days. 11.61% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $319.74 on Friday. The stock’s 50 day moving average is $362.93 and its 200 day moving average is $338.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 1.92. The firm has a market cap of $3.87 trillion, a P/E ratio of 16.06, a P/E/G ratio of 1.31 and a beta of 1.24. Alphabet Inc. has a one year low of $187.82 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. As a group, research analysts expect that Alphabet Inc. will post 17.59 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s dividend payout ratio is currently 4.42%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Loop Capital boosted their price target on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Rosenblatt Securities reiterated a “neutral” rating and issued a $393.00 price objective on shares of Alphabet in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. HSBC reissued a “buy” rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Finally, China Renaissance upped their price target on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $419.86.

Check Out Our Latest Research Report on GOOGL

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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