IMA Advisory Services Inc. Takes $28,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

IMA Advisory Services Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 182 shares of the information services provider’s stock, valued at approximately $28,000.

Other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter worth about $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the first quarter worth about $39,000. Elite Financial Inc. acquired a new position in Alphabet during the first quarter worth about $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet during the fourth quarter worth about $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in Alphabet during the first quarter worth about $49,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. Barclays lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. DA Davidson lifted their target price on shares of Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Roth Capital lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Finally, Piper Sandler lifted their target price on shares of Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $211.39.

Alphabet Price Performance

Shares of GOOGL stock opened at $196.53 on Thursday. The company has a market capitalization of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. The firm has a fifty day simple moving average of $177.49 and a 200-day simple moving average of $173.11. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,298 shares of company stock valued at $43,505,967 over the last 90 days. Insiders own 11.64% 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.