Iron Horse Wealth Management LLC Purchases 266 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Iron Horse Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 144.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450 shares of the information services provider’s stock after buying an additional 266 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Alphabet were worth $82,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Security National Bank raised its position in Alphabet by 302.4% in the 2nd quarter. Security National Bank now owns 37,305 shares of the information services provider’s stock valued at $6,795,000 after purchasing an additional 28,035 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in Alphabet by 7.3% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 26,551 shares of the information services provider’s stock valued at $4,836,000 after purchasing an additional 1,813 shares during the last quarter. Burr Financial Services LLC raised its position in Alphabet by 0.9% in the 2nd quarter. Burr Financial Services LLC now owns 12,508 shares of the information services provider’s stock valued at $2,278,000 after purchasing an additional 111 shares during the last quarter. Geneva Partners LLC raised its position in Alphabet by 37.6% in the 2nd quarter. Geneva Partners LLC now owns 69,090 shares of the information services provider’s stock valued at $12,585,000 after purchasing an additional 18,894 shares during the last quarter. Finally, Centennial Wealth Advisory LLC raised its position in Alphabet by 12.9% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 3,590 shares of the information services provider’s stock valued at $654,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $164.68 on Wednesday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock’s 50 day moving average is $174.51 and its 200-day moving average is $163.44. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $26,823,893 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOGL shares. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Truist Financial lifted their target price on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Loop Capital reissued a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

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.