Iams Wealth Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Iams Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,990 shares of the information services provider’s stock after purchasing an additional 488 shares during the period. Iams Wealth Management LLC’s holdings in Alphabet were worth $1,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOGL shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citigroup dropped their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday. Cantor Fitzgerald reduced their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Loop Capital boosted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Alphabet Stock Performance

Shares of Alphabet stock opened at $191.33 on Thursday. The firm’s fifty day simple moving average is $190.39 and its 200-day simple moving average is $174.40. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

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.