IPG Investment Advisors LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

IPG Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,114 shares of the information services provider's stock after purchasing an additional 3,030 shares during the period. Alphabet comprises approximately 1.7% of IPG Investment Advisors LLC's holdings, making the stock its 18th biggest position. IPG Investment Advisors LLC's holdings in Alphabet were worth $7,404,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after buying an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its stake in Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after acquiring an additional 14,262 shares during the period. Absolute Capital Management LLC lifted its holdings in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP bought a new position in shares of Alphabet in the fourth quarter worth approximately $273,000. Finally, Glass Wealth Management Co LLC boosted its position in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.8 %

NASDAQ:GOOGL traded up $4.32 during mid-day trading on Friday, hitting $157.14. 33,590,459 shares of the stock traded hands, compared to its average volume of 28,202,345. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.34 and a beta of 1.03. The firm's 50 day moving average is $168.52 and its two-hundred day moving average is $176.22.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. Wells Fargo & Company decreased their price objective on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. Westpark Capital raised Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. KeyCorp lowered their price objective on Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald reiterated a "neutral" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $206.51.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company's stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 over the last quarter. Company insiders own 11.55% of the company's stock.

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.