Victory Capital Management Inc. Sells 390,718 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Victory Capital Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,047,774 shares of the information services provider’s stock after selling 390,718 shares during the quarter. Alphabet accounts for approximately 0.6% of Victory Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Victory Capital Management Inc.’s holdings in Alphabet were worth $529,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $114,000. Bridgefront Capital LLC bought a new stake in Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its holdings in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet during the 1st quarter worth approximately $281,000. 35.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now directly owns 7,184 shares of the company’s stock, valued at $954,897.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,674 shares of company stock worth $16,162,276. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $144.10 on Wednesday. Alphabet Inc. has a twelve month low of $88.57 and a twelve month high of $153.78. 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 firm has a 50-day moving average of $139.90 and a two-hundred day moving average of $135.29. The company has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.33 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the business earned $1.05 earnings per share. As a group, analysts expect that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Barclays dropped their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Piper Sandler lifted their price target on shares of Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. Truist Financial dropped their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, Wedbush restated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.65.

View Our Latest Report on Alphabet

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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