IHT Wealth Management LLC Buys 31,669 Shares of Alphabet Inc. (NASDAQ:GOOG)

IHT Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 37.5% during the third quarter, Holdings Channel reports. The institutional investor owned 116,148 shares of the information services provider’s stock after buying an additional 31,669 shares during the quarter. IHT Wealth Management LLC’s holdings in Alphabet were worth $19,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Granite Bay Wealth Management LLC lifted its stake in Alphabet by 6,610.0% in the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after buying an additional 1,742,794 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Alphabet by 27.8% during the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after buying an additional 1,632,691 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. This represents a 27.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,124 shares of company stock worth $31,374,030. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

NASDAQ:GOOG traded up $0.46 on Tuesday, hitting $173.44. 2,668,802 shares of the company’s stock were exchanged, compared to its average volume of 19,474,484. The company has a market cap of $2.12 trillion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The firm has a 50-day moving average price of $169.98 and a 200-day moving average price of $171.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

About Alphabet

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.