Iowa State Bank Acquires 348 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Iowa State Bank boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,783 shares of the information services provider’s stock after acquiring an additional 348 shares during the period. Alphabet accounts for about 2.0% of Iowa State Bank’s investment portfolio, making the stock its 14th largest holding. Iowa State Bank’s holdings in Alphabet were worth $9,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Schear Investment Advisers LLC increased its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC increased its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc boosted its holdings in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $5.69 during trading hours on Monday, hitting $197.48. 15,307,571 shares of the company were exchanged, compared to its average volume of 17,883,203. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The business has a 50-day moving average of $180.24 and a 200-day moving average of $172.46.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 155,887 shares of company stock valued at $27,996,356. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $220.00 target price for the company. in a research report on Thursday. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.82.

View Our Latest Analysis on GOOGL

About Alphabet

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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