Alphabet Inc. (NASDAQ:GOOG) is Victory Capital Management Inc.'s 7th Largest Position

Victory Capital Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,400,445 shares of the information services provider's stock after selling 147,557 shares during the quarter. Alphabet makes up 0.9% of Victory Capital Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Victory Capital Management Inc.'s holdings in Alphabet were worth $843,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GOOG. LSV Asset Management purchased a new stake in Alphabet during the 4th quarter worth about $27,000. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $26,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOG. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group boosted their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.31 during trading on Thursday, reaching $185.08. The company's stock had a trading volume of 15,578,051 shares, compared to its average volume of 21,508,154. The business has a 50 day moving average price of $172.81 and a 200-day moving average price of $174.80. The company has a market capitalization of $2.25 trillion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. 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 released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,343 shares of company stock valued at $31,296,140 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

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.