Iron Gate Global Advisors LLC Has $32.06 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Iron Gate Global Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,797 shares of the information services provider’s stock after acquiring an additional 1,148 shares during the period. Alphabet accounts for approximately 5.0% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Iron Gate Global Advisors LLC’s holdings in Alphabet were worth $32,063,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. M&G PLC acquired a new stake in shares of Alphabet in the third quarter valued at about $2,240,000. Colonial River Wealth Management LLC increased its position in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after buying an additional 498 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOG shares. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Up 1.5 %

GOOG stock opened at $172.98 on Tuesday. The company’s 50-day simple moving average is $169.98 and its 200-day simple moving average is $171.82. The firm has a market cap of $2.12 trillion, a P/E ratio of 22.94, a PEG ratio of 1.19 and a beta of 1.02. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,124 shares of company stock valued at $31,374,030. 12.99% of the stock is currently owned by insiders.

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.