IAG Wealth Partners LLC Acquires 123 Shares of Alphabet Inc. (NASDAQ:GOOGL)

IAG Wealth Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 55.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 343 shares of the information services provider’s stock after acquiring an additional 123 shares during the quarter. IAG Wealth Partners LLC’s holdings in Alphabet were worth $48,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. FMR LLC raised its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp raised its holdings in Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after purchasing an additional 335,219 shares during the period. American Century Companies Inc. boosted its stake in shares of Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after buying an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC raised its stake in Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after buying an additional 2,058,221 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOGL shares. Needham & Company LLC boosted their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Argus upped their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Price Performance

Alphabet stock opened at $167.24 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.08 trillion, a P/E ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. The company has a 50-day moving average price of $150.14 and a 200 day moving average price of $142.32. Alphabet Inc. has a 12-month low of $103.97 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the business posted $1.17 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the transaction, the insider now directly owns 12,725 shares of the company’s stock, valued at approximately $1,809,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,129 shares of company stock worth $40,382,765. Company insiders own 0.88% of the company’s stock.

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.