Iams Wealth Management LLC Purchases 791 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Iams Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,502 shares of the information services provider’s stock after acquiring an additional 791 shares during the period. Iams Wealth Management LLC’s holdings in Alphabet were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during 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 in the last quarter. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. Tigress Financial boosted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital reissued a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Finally, The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Price Performance

Shares of Alphabet stock opened at $165.14 on Wednesday. The stock has a 50 day moving average of $161.82 and a 200 day moving average of $168.44. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market cap of $2.04 trillion, a PE ratio of 25.33, a PEG 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 results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company earned $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.