Investment Partners Asset Management Inc. Acquires 115 Shares of Alphabet Inc. (NASDAQ:GOOG)

Investment Partners Asset Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,850 shares of the information services provider’s stock after buying an additional 115 shares during the period. Alphabet makes up approximately 1.2% of Investment Partners Asset Management Inc.’s investment portfolio, making the stock its 21st biggest position. Investment Partners Asset Management Inc.’s holdings in Alphabet were worth $1,480,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors raised its position in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Capital World Investors lifted its stake in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after buying an additional 636,008 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GOOG shares. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.8 %

Shares of GOOG opened at $168.34 on Tuesday. The stock’s 50-day moving average price is $163.35 and its two-hundred day moving average price is $170.18. Alphabet Inc. has a 12 month low of $123.88 and a 12 month high of $193.31. The company has a market capitalization of $2.08 trillion, a PE ratio of 25.82, a PEG ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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.