Alphabet Inc. $GOOG Shares Acquired by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 94.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 704 shares of the information services provider’s stock after buying an additional 342 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Alphabet were worth $125,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Robert W. Baird boosted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $247.13 on Wednesday. The company has a 50-day simple moving average of $224.07 and a 200-day simple moving average of $188.32. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.