Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by IAG Wealth Partners LLC

IAG Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3,275.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 270 shares of the information services provider’s stock after buying an additional 262 shares during the quarter. IAG Wealth Partners LLC’s holdings in Alphabet were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after buying an additional 17,019,726 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Alphabet by 1,957.3% in the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after acquiring an additional 16,989,271 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Alphabet by 1,830.2% in the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after acquiring an additional 15,633,495 shares during the period. Raymond James & Associates boosted its holdings in shares of Alphabet by 1,927.0% in the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after acquiring an additional 7,875,993 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Alphabet by 1,876.5% during the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after purchasing an additional 6,807,300 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Rosenblatt Securities cut their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Susquehanna lowered their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a report on Wednesday, October 26th. Bank of America decreased their price objective on Alphabet from $125.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. Susquehanna Bancshares dropped their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a report on Wednesday, October 26th. Finally, Royal Bank of Canada lowered their price objective on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Price Performance

GOOGL stock opened at $98.02 on Friday. The stock has a market capitalization of $1.27 trillion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company’s 50-day moving average is $93.03 and its 200-day moving average is $101.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period last year, the company earned $1.40 EPS. Equities research analysts expect that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.