Victory Capital Management Inc. Reduces Stake in Alphabet Inc.

Published May 10, 2024

Victory Capital Management Inc., in the recent quarter, has decreased its investment in Alphabet Inc., the parent company of Google. In its latest Form 13F filing with the Securities & Exchange Commission, the firm reported a 3.9% reduction in its Alphabet holdings, selling off 158,385 shares. As a result, their stake in Alphabet is now represented by 3,889,389 shares.

Alphabet as Part of Victory Capital's Portfolio

Alphabet currently accounts for 0.6% of Victory Capital Management Inc.'s investment portfolio, ranking as the company's 11th largest position. With changes in stock value, Victory Capital's remaining shares in Alphabet were valued at approximately $543.31 million at the close of the last reporting period.

Institutional Investors' Movement

Victory Capital isn't the only institutional investor making changes to its Alphabet investment. Other funds have been adjusting their positions, with some increasing their shares and others taking new stakes in the tech giant.

Analyst Insights and Stock Performance

Equity analysts have been reviewing Alphabet's stock and setting new price targets. A collection of recent reports shows a positive outlook from the analyst community, with several 'buy' and 'strong buy' ratings and price targets above the current share price, indicating an optimistic future for the company's valuation.

Alphabet's stock performance has been solid, with its latest opening price noted at $169.96. The company boasts a strong financial position, which includes a low debt-to-equity ratio and robust ratios that speak to its liquidity and financial health.

Recent Earnings and Dividend Information

Alphabet's recent earnings outpaced analyst expectations, which bodes well for investor confidence in the company's profitability. In addition, Alphabet announced a quarterly dividend, further rewarding shareholders.

Insider Transactions

There has been notable insider activity at Alphabet, including stock sales by high-level executives such as the CEO Sundar Pichai, revealing a part of the company's stock dynamics.

Company Overview

Alphabet Inc. has a diverse range of products and services, offering search, advertising, operating systems, platforms and hardware to a global audience. Its segments include Google Services, Google Cloud, and Other Bets, highlighting its multifaceted business model.

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