IronOak Wealth LLC. Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOG)

IronOak Wealth LLC. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 11,847 shares of the information services provider's stock, valued at approximately $2,256,000. Alphabet comprises 2.5% of IronOak Wealth LLC.'s portfolio, making the stock its 13th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $27,000. LSV Asset Management acquired a new stake in Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $0.60 during mid-day trading on Wednesday, reaching $173.38. 24,106,636 shares of the company traded hands, compared to its average volume of 20,176,255. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market cap of $2.10 trillion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a fifty day simple moving average of $160.72 and a 200-day simple moving average of $176.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is 9.36%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GOOG shares. Wedbush reiterated an "outperform" rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $203.94.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,654 shares of company stock worth $26,793,380. 12.99% of the stock is owned by corporate insiders.

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.