IronOak Wealth LLC. Invests $2.26 Million in Alphabet Inc. (NASDAQ:GOOG)

IronOak Wealth LLC. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,847 shares of the information services provider's stock, valued at approximately $2,256,000. Alphabet makes up about 2.5% of IronOak Wealth LLC.'s investment portfolio, making the stock its 13th biggest position.

Several other large investors also recently modified their holdings of GOOG. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter worth $5,166,070,000. Raymond James Financial Inc. acquired a new stake in Alphabet in the fourth quarter valued at about $1,551,533,000. Northern Trust Corp boosted its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. GQG Partners LLC boosted its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Finally, Capital International Investors boosted its stake in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock valued at $26,793,380 over the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.4%

Shares of GOOG stock opened at $169.59 on Tuesday. The company has a market cap of $2.06 trillion, a P/E ratio of 21.07, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a 50 day simple moving average of $160.54 and a two-hundred day simple moving average of $176.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Wedbush reissued an "outperform" rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.

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.

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