Alphabet Inc. (NASDAQ:GOOGL) is Vision Capital Management Inc.'s 9th Largest Position

Vision Capital Management Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,434 shares of the information services provider's stock after buying an additional 2,605 shares during the period. Alphabet accounts for about 2.9% of Vision Capital Management Inc.'s portfolio, making the stock its 9th largest position. Vision Capital Management Inc.'s holdings in Alphabet were worth $20,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $24,383,677,000. FMR LLC increased its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. GAMMA Investing LLC increased its position in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp increased its position in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors increased its position in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock valued at $37,288,490 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GOOGL shares. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group lifted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Cantor Fitzgerald lifted their price objective on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, KeyCorp lifted their price objective on shares of Alphabet from $195.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $201.41.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $0.61 during trading on Thursday, hitting $183.58. 31,918,761 shares of the stock traded hands, compared to its average volume of 32,090,183. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.23 trillion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.28 and a beta of 1.00. The company has a fifty day moving average price of $171.67 and a two-hundred day moving average price of $173.20. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the firm earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.

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.