Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by IHT Wealth Management LLC

IHT Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 37.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,148 shares of the information services provider’s stock after acquiring an additional 31,669 shares during the period. IHT Wealth Management LLC’s holdings in Alphabet were worth $19,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Independent Family Office LLC raised its position in Alphabet by 28.6% during the third quarter. Independent Family Office LLC now owns 6,840 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 1,520 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Alphabet by 0.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 168,246 shares of the information services provider’s stock worth $28,129,000 after purchasing an additional 470 shares during the last quarter. Investmark Advisory Group LLC raised its holdings in shares of Alphabet by 0.8% during the 3rd quarter. Investmark Advisory Group LLC now owns 8,817 shares of the information services provider’s stock valued at $1,474,000 after purchasing an additional 67 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in shares of Alphabet by 22.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 284,330 shares of the information services provider’s stock valued at $47,537,000 after purchasing an additional 52,860 shares during the last quarter. Finally, Iron Gate Global Advisors LLC boosted its holdings in Alphabet by 0.6% in the third quarter. Iron Gate Global Advisors LLC now owns 191,797 shares of the information services provider’s stock worth $32,063,000 after purchasing an additional 1,148 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock traded up $0.46 during trading hours on Tuesday, hitting $173.44. The stock had a trading volume of 2,668,802 shares, compared to its average volume of 19,474,484. The company has a 50-day moving average of $169.98 and a two-hundred day moving average of $171.82. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The company has a market cap of $2.12 trillion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,124 shares of company stock worth $31,374,030 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.