IRON Financial LLC Has $225,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

IRON Financial LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,438 shares of the information services provider’s stock after selling 174 shares during the quarter. IRON Financial LLC’s holdings in Alphabet were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in Alphabet by 1.4% in the first quarter. Amalgamated Bank now owns 1,045,866 shares of the information services provider’s stock worth $163,396,000 after purchasing an additional 14,516 shares during the period. Verity Asset Management Inc. grew its holdings in shares of Alphabet by 5.5% in the 1st quarter. Verity Asset Management Inc. now owns 2,244 shares of the information services provider’s stock valued at $351,000 after buying an additional 116 shares during the period. Crown Wealth Group LLC increased its position in shares of Alphabet by 1.5% in the 1st quarter. Crown Wealth Group LLC now owns 5,595 shares of the information services provider’s stock valued at $874,000 after buying an additional 82 shares in the last quarter. Waterfront Wealth Inc. raised its stake in Alphabet by 1.9% during the 1st quarter. Waterfront Wealth Inc. now owns 4,695 shares of the information services provider’s stock worth $734,000 after buying an additional 89 shares during the period. Finally, Wealthstar Advisors LLC raised its stake in Alphabet by 34.4% during the 1st quarter. Wealthstar Advisors LLC now owns 3,777 shares of the information services provider’s stock worth $590,000 after buying an additional 966 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,643 shares of company stock worth $35,682,228. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.38.

Alphabet Price Performance

NASDAQ:GOOG opened at $177.39 on Tuesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market cap of $2.15 trillion, a P/E ratio of 19.78, a P/E/G ratio of 1.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s 50-day simple moving average is $168.37 and its 200 day simple moving average is $175.80.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is presently 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.