Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Boosted by IAG Wealth Partners LLC

IAG Wealth Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 65.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,012 shares of the information services provider’s stock after acquiring an additional 400 shares during the period. IAG Wealth Partners LLC’s holdings in Alphabet were worth $158,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Susquehanna restated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Westpark Capital reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Finally, UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,570 shares of company stock valued at $32,003,532. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.6%

Shares of GOOG stock opened at $175.88 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market capitalization of $2.13 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a 50-day moving average price of $164.57 and a 200 day moving average price of $176.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.36%.

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.