Iron Gate Global Advisors LLC Has $14.94 Million Stock Position in Alphabet Inc. $GOOGL

Iron Gate Global Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the first quarter, Holdings Channel reports. The institutional investor owned 96,640 shares of the information services provider’s stock after acquiring an additional 5,504 shares during the period. Alphabet makes up 2.1% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Iron Gate Global Advisors LLC’s holdings in Alphabet were worth $14,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $239.17 on Thursday. The company’s 50 day moving average is $199.43 and its 200-day moving average is $176.61. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $241.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.89 trillion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GOOGL shares. Westpark Capital boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays boosted their price target on shares of Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Wedbush boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Alphabet 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.