Ibex Wealth Advisors Buys Shares of 1,400 Alphabet Inc. $GOOG

Ibex Wealth Advisors purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,400 shares of the information services provider’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. REDW Wealth LLC boosted its position in Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after acquiring an additional 54 shares in the last quarter. ACT Advisors LLC. lifted its stake in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the last quarter. Moser Wealth Advisors LLC boosted its position in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management grew its stake in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the last quarter. Finally, Kooman & Associates grew its stake in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock worth $53,983,001 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 0.4%

NASDAQ:GOOG opened at $291.74 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.34. The company has a market cap of $3.53 trillion, a PE ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 1.05. The company’s 50 day moving average is $254.94 and its two-hundred day moving average is $207.64.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company 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 is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOG. Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Sanford C. Bernstein increased their target price on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research upped their price target on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Mizuho set a $325.00 price objective on Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.