Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Venturi Wealth Management LLC

Key Points

• Venturi Wealth Management LLC has increased its stake in Alphabet Inc. by 2.0%, now owning 151,091 shares valued at approximately $23.4 million, making it the firm's 13th largest position.
• Several institutional investors, including Eagle Capital Management LLC and Brighton Jones LLC, have also boosted their holdings in Alphabet during the fourth quarter, with hedge funds owning 40.03% of the stock.
• Alphabet's stock recently saw an increase to a new price target from analysts, with Piper Sandler raising it to $220.00 and Citigroup to $225.00, reflecting strong confidence in the company's outlook.

Venturi Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,091 shares of the information services provider's stock after purchasing an additional 2,951 shares during the quarter. Alphabet comprises 1.2% of Venturi Wealth Management LLC's investment portfolio, making the stock its 13th biggest position. Venturi Wealth Management LLC's holdings in Alphabet were worth $23,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. SYM FINANCIAL Corp raised its holdings in shares of Alphabet by 17.1% in the 1st quarter. SYM FINANCIAL Corp now owns 9,468 shares of the information services provider's stock valued at $1,464,000 after buying an additional 1,383 shares during the period. Oak Thistle LLC increased its stake in Alphabet by 1,083.3% during the 1st quarter. Oak Thistle LLC now owns 39,710 shares of the information services provider's stock worth $6,141,000 after buying an additional 36,354 shares during the period. Efficient Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $438,000. WorthPointe LLC increased its stake in Alphabet by 11.5% during the 1st quarter. WorthPointe LLC now owns 2,021 shares of the information services provider's stock worth $313,000 after buying an additional 209 shares during the period. Finally, Teramo Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $343,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL traded down $2.77 during trading hours on Friday, reaching $189.13. The company's stock had a trading volume of 34,777,882 shares, compared to its average volume of 37,170,977. The stock has a market cap of $2.30 trillion, a PE ratio of 20.14, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company's 50-day moving average is $177.91 and its two-hundred day moving average is $173.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,399 shares of company stock valued at $43,525,794. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Finally, Citigroup increased their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.39.

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.