IAG Wealth Partners LLC Acquires 200 Shares of Alphabet Inc. (NASDAQ:GOOG)

IAG Wealth Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 48.5% in the 4th quarter, HoldingsChannel reports. The firm owned 612 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. IAG Wealth Partners LLC’s holdings in Alphabet were worth $116,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter valued at about $33,000. Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. increased its holdings in Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.8 %

GOOG stock opened at $169.00 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 20.99, a P/E/G ratio of 1.34 and a beta of 1.03. The business has a 50-day moving average of $188.44 and a 200-day moving average of $178.02. Alphabet Inc. has a fifty-two week low of $140.01 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,682 shares of company stock valued at $17,901,024. Insiders own 12.99% 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.