IHT Wealth Management LLC Buys 83,308 Shares of Alphabet Inc. (NASDAQ:GOOGL)

IHT Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,212.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 87,074 shares of the information services provider’s stock after purchasing an additional 83,308 shares during the quarter. Alphabet makes up approximately 0.6% of IHT Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. IHT Wealth Management LLC’s holdings in Alphabet were worth $8,329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Willow Creek Wealth Management Inc. increased its position in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. increased its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after acquiring an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its holdings in Alphabet by 1,915.2% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after acquiring an additional 123,356 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Wednesday, March 8th. Morgan Stanley increased their target price on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, StockNews.com assumed coverage on shares of Alphabet in a report on Thursday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.32.

Alphabet Stock Up 4.4 %

Shares of GOOGL opened at $100.32 on Friday. The company has a market cap of $1.28 trillion, a PE ratio of 22.04, a P/E/G ratio of 1.26 and a beta of 1.09. The business has a fifty day moving average of $94.79 and a 200 day moving average of $96.32. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock worth $7,174,078 over the last quarter. Company insiders own 11.44% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.