IMG Wealth Management Inc. Increases Stock Position in Alphabet Inc. $GOOG

IMG Wealth Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,738 shares of the information services provider’s stock after purchasing an additional 278 shares during the quarter. IMG Wealth Management Inc.’s holdings in Alphabet were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $26,000. Finally, Fairman Group LLC lifted its position in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOG shares. Oppenheimer set a $300.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Monday. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.26.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $253.73 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The company has a market capitalization of $3.07 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.70 and a beta of 1.00. The business has a 50 day moving average price of $236.22 and a 200 day moving average price of $195.53.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last three months. 12.99% of the stock is currently owned by company insiders.

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.