Analyst IMS Investment Management Services Ltd. Increases Position in Alphabet Inc. $GOOGL

Analyst IMS Investment Management Services Ltd. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,666 shares of the information services provider’s stock after purchasing an additional 1,431 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Alphabet were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter worth about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,396 shares of company stock worth $54,105,275 in the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $278.83 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50 day moving average price of $251.23 and a 200-day moving average price of $204.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. HSBC boosted their price target on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Truist Financial raised their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. CICC Research lifted their target price on Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $320.00 price target (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $304.10.

Alphabet Company 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.