Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by IMS Capital Management

IMS Capital Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,745 shares of the information services provider’s stock after buying an additional 1,426 shares during the quarter. Alphabet comprises about 2.6% of IMS Capital Management’s investment portfolio, making the stock its 8th biggest position. IMS Capital Management’s holdings in Alphabet were worth $5,702,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $34,000. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOG shares. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $179.29.

Alphabet Stock Performance

GOOG stock opened at $167.19 on Tuesday. The stock’s 50 day simple moving average is $164.02 and its 200 day simple moving average is $168.32. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at $4,590,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,802 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,225 shares of company stock worth $36,134,681. 12.99% of the stock is owned by insiders.

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.