Alphabet Inc. (NASDAQ:GOOG) Stake Raised by IAG Wealth Partners LLC

IAG Wealth Partners LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 48.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612 shares of the information services provider’s stock after acquiring an additional 200 shares during the period. IAG Wealth Partners LLC’s holdings in Alphabet were worth $116,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth about $27,000. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter worth about $33,000. Noble Wealth Management PBC acquired a new position in Alphabet in the 4th quarter worth about $43,000. Finally, FPC Investment Advisory Inc. increased its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $169.00 on Thursday. Alphabet Inc. has a 1-year low of $140.01 and a 1-year high of $208.70. The firm has a market capitalization of $2.06 trillion, a PE ratio of 20.99, a PEG ratio of 1.34 and a beta of 1.03. The business’s 50 day moving average is $188.44 and its 200-day moving average is $178.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,682 shares of company stock valued at $17,901,024. 12.99% of the stock is owned by corporate insiders.

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.