Alphabet Inc. $GOOG Stock Position Raised by Wealth Advisors of Iowa LLC

Wealth Advisors of Iowa LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,329 shares of the information services provider’s stock after purchasing an additional 252 shares during the quarter. Alphabet accounts for 0.5% of Wealth Advisors of Iowa LLC’s investment portfolio, making the stock its 28th biggest holding. Wealth Advisors of Iowa LLC’s holdings in Alphabet were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley increased its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its position in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC boosted its stake 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 buying an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This trade represents a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 195,452 shares of company stock valued at $49,255,209. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Price Performance

NASDAQ:GOOG opened at $289.98 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. The company has a fifty day moving average price of $261.82 and a 200 day moving average price of $212.97. Alphabet Inc. has a one year low of $142.66 and a one year high of $306.89. The stock has a market cap of $3.50 trillion, a P/E ratio of 28.60, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Alphabet 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.