Ibex Wealth Advisors Buys Shares of 1,501 Alphabet Inc. (NASDAQ:GOOG)

Ibex Wealth Advisors purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,501 shares of the information services provider’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB raised its position in shares of Alphabet by 1.7% during the 4th quarter. Swedbank AB now owns 8,483,070 shares of the information services provider’s stock worth $1,615,516,000 after purchasing an additional 144,170 shares during the last quarter. Allen Capital Group LLC lifted its position in Alphabet by 6.4% during the 4th quarter. Allen Capital Group LLC now owns 5,698 shares of the information services provider’s stock worth $1,085,000 after acquiring an additional 344 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its holdings in Alphabet by 1.1% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 5,787 shares of the information services provider’s stock worth $1,102,000 after acquiring an additional 61 shares during the period. Nvest Financial LLC grew its position in Alphabet by 38.8% in the fourth quarter. Nvest Financial LLC now owns 2,227 shares of the information services provider’s stock valued at $424,000 after acquiring an additional 622 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Alphabet by 1.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,013,926 shares of the information services provider’s stock valued at $383,532,000 after purchasing an additional 31,894 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $205.60 on Friday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08. The firm has a market capitalization of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. The company’s 50 day simple moving average is $190.48 and its 200 day simple moving average is $175.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,630 shares of company stock worth $22,258,133. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.