IMG Wealth Management Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

IMG Wealth Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,460 shares of the information services provider’s stock, valued at approximately $278,000.

Several other large investors have also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $27,000. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter valued at $33,000. Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter valued at $43,000. Finally, FPC Investment Advisory Inc. boosted its holdings in Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOG. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $167.62 on Monday. Alphabet Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $208.70. The business has a 50-day simple moving average of $187.41 and a two-hundred day simple moving average of $178.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Alphabet Company 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.