Virtus ETF Advisers LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Virtus ETF Advisers LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,222 shares of the information services provider’s stock, valued at approximately $814,000. Alphabet makes up approximately 0.5% of Virtus ETF Advisers LLC’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DC Investments Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its position in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet during the 1st quarter worth approximately $281,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $149.00 on Monday. The firm has a 50-day moving average of $140.72 and a 200-day moving average of $135.76. The company has a market cap of $1.86 trillion, a P/E ratio of 25.69, a P/E/G ratio of 1.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a one year low of $88.57 and a one year high of $153.78.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 6.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOGL. Truist Financial lowered their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. KeyCorp upped their price objective on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Monness Crespi & Hardt cut shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. JMP Securities upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities decreased their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

Read Our Latest Report on GOOGL

Insider Buying and Selling

In related news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares in the company, valued at $3,535,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares in the company, valued at $3,535,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,974 shares of company stock worth $19,427,217. Insiders own 0.88% of the company’s stock.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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