Vertrix Wealth Management LLC Invests $3.35 Million in Alphabet Inc. $GOOGL

Vertrix Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,634 shares of the information services provider’s stock, valued at approximately $3,345,000.

Several other institutional investors have also made changes to their positions in the stock. EMC Capital Management acquired a new position in Alphabet in the 4th quarter valued at $33,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet during the 4th quarter worth $32,000. PMV Capital Advisers LLC bought a new position in shares of Alphabet in the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet in the fourth quarter worth $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet in the fourth quarter valued at about $52,000. 40.03% of the stock is currently owned by institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo plans to expand driverless rides to four more major cities this year, with a phased rollout that could broaden Alphabet’s autonomous vehicle opportunity and reinforce its leadership in robotaxis. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Alphabet continues to be highlighted as a beneficiary of massive AI infrastructure spending, with analysts pointing to strong demand for cloud expansion, data centers, and AI hardware. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Alphabet was cited as an indirect way to gain exposure to Anthropic ahead of a possible IPO, since the company already holds a major private stake in the AI startup. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There (GOOGL)
• Positive Sentiment: Berkshire Hathaway reportedly added a $10 billion private placement investment in Alphabet, a sign of institutional confidence that could support sentiment in the stock. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Cognizant deepened its Google Cloud partnership to accelerate enterprise AI adoption, which underscores Alphabet’s cloud relevance but is not a direct financial catalyst by itself. Cognizant Strengthens AI Portfolio Through Google Cloud Partnership
• Neutral Sentiment: Google’s upcoming Pixel launch event on August 12 keeps hardware in view, but this is more of a product-calendar reminder than an immediate stock-moving catalyst. Google’s Pixel event is set for August 12
• Negative Sentiment: Google updated the Chrome Web Store to ban prediction market transactions, a policy move that may be seen as restrictive and could attract backlash from affected users and developers. Google Bans Prediction Market Transactions Amid Backlash
• Negative Sentiment: One article noted Alphabet shares were already slipping versus the broader market, adding to the intraday weakness as traders weigh valuation and AI competition concerns. Alphabet Inc. (GOOG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 160,465 shares of company stock worth $8,020,511. Company insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GOOGL shares. Truist Financial set a $430.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, May 29th. KeyCorp restated an “overweight” rating and issued a $425.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Arete Research upped their price target on shares of Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Phillip Securities upped their price target on shares of Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a report on Wednesday, April 15th. Finally, Bank of America increased their price target on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $413.54.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $361.92 on Thursday. The company has a market cap of $4.39 trillion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a 50 day simple moving average of $372.28 and a 200 day simple moving average of $335.93. Alphabet Inc. has a one year low of $172.77 and a one year high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Research analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet Profile

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.