Ibex Wealth Advisors Purchases Shares of 64,650 Alphabet Inc. (NASDAQ:GOOGL)

Ibex Wealth Advisors purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 64,650 shares of the information services provider’s stock, valued at approximately $12,238,000. Alphabet makes up 1.4% of Ibex Wealth Advisors’ holdings, making the stock its 15th largest holding.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $191.60 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $190.83 and its 200-day moving average is $174.52. The firm has a market cap of $2.35 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Citigroup decreased their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $210.62.

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.