Vestor Capital LLC Sells 59,159 Shares of Alphabet Inc. (NASDAQ:GOOG)

Vestor Capital LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 30.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 132,034 shares of the information services provider's stock after selling 59,159 shares during the period. Alphabet accounts for 1.7% of Vestor Capital LLC's investment portfolio, making the stock its 16th largest position. Vestor Capital LLC's holdings in Alphabet were worth $20,628,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank boosted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.44.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.5%

Shares of NASDAQ GOOG opened at $192.11 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.33 trillion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The stock's fifty day simple moving average is $174.02 and its two-hundred day simple moving average is $174.50. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

About Alphabet

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.

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