Vivid Wealth Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Vivid Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,032 shares of the information services provider’s stock, valued at approximately $3,916,000. Alphabet makes up approximately 2.7% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position.

A number of other large investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its holdings in shares of Alphabet by 0.3% during the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after acquiring an additional 1,302,104 shares in the last quarter. FMR LLC increased its holdings in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. State Street Corp increased its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Alphabet by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after buying an additional 1,499,107 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. KeyCorp upped their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.64.

Alphabet Trading Down 0.3 %

NASDAQ:GOOGL opened at $154.40 on Wednesday. The firm has a market cap of $1.92 trillion, a P/E ratio of 26.62, a PEG ratio of 1.46 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $145.76 and its 200-day simple moving average is $140.19. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,839 shares of company stock worth $32,835,757. 0.88% of the stock is owned by corporate insiders.

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.