Alphabet Inc. (NASDAQ:GOOGL) is Foster Victor Wealth Advisors LLC’s 9th Largest Position

Foster Victor Wealth Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,044 shares of the information services provider’s stock after acquiring an additional 15,092 shares during the period. Alphabet comprises approximately 1.5% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 9th biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Alphabet were worth $20,725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the period. Capital Research Global Investors lifted its position in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after acquiring an additional 238,403 shares during the period. Capital World Investors grew its position in Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $162.78 on Thursday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.01 trillion, a PE ratio of 24.97, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50 day simple moving average of $161.87 and a 200-day simple moving average of $168.40.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. BMO Capital Markets dropped their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Truist Financial increased their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.76.

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.