Investment Research & Advisory Group Inc. Sells 168 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Investment Research & Advisory Group Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,442 shares of the information services provider’s stock after selling 168 shares during the quarter. Alphabet accounts for 3.0% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 6th largest position. Investment Research & Advisory Group Inc.’s holdings in Alphabet were worth $7,039,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. New Hampshire Trust increased its position in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP increased its position in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the period. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. increased its position in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,552 shares of company stock worth $34,433,848 over the last three months. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. TD Securities lifted their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. KeyCorp lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $169.74 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $162.59 and a two-hundred day moving average of $169.31. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.22 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 10.61%.

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.