Virginia Wealth Management Group Inc. Buys Shares of 1,800 Alphabet Inc. (NASDAQ:GOOGL)

Virginia Wealth Management Group Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,800 shares of the information services provider’s stock, valued at approximately $299,000.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC boosted its position in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC boosted its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank boosted its holdings in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the period. Finally, MKT Advisors LLC boosted its holdings in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOOGL shares. Truist Financial lifted their target price on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company decreased their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Price Performance

Shares of GOOGL opened at $163.42 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock’s 50 day moving average is $161.77 and its two-hundred day moving average is $168.16. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by corporate insiders.

Alphabet 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.