IHT Wealth Management LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

IHT Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,092 shares of the information services provider's stock after selling 29,056 shares during the period. IHT Wealth Management LLC's holdings in Alphabet were worth $16,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. Stifel Financial Corp lifted its holdings in shares of Alphabet by 2.4% in the 4th quarter. Stifel Financial Corp now owns 3,535,678 shares of the information services provider's stock worth $673,344,000 after acquiring an additional 84,059 shares during the last quarter. Wealth Dimensions Group Ltd. grew its stake in Alphabet by 16.8% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 12,513 shares of the information services provider's stock worth $2,383,000 after purchasing an additional 1,799 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Alphabet by 233.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 420,416 shares of the information services provider's stock worth $80,064,000 after buying an additional 294,148 shares during the period. Transce3nd LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $542,000. Finally, Trajan Wealth LLC lifted its holdings in Alphabet by 10.4% during the 4th quarter. Trajan Wealth LLC now owns 82,400 shares of the information services provider's stock worth $15,692,000 after buying an additional 7,775 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock traded up $4.07 on Wednesday, reaching $157.97. The company had a trading volume of 18,541,470 shares, compared to its average volume of 19,418,614. 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 company's fifty day moving average is $165.19 and its 200 day moving average is $177.19. The company has a market cap of $1.93 trillion, a P/E ratio of 19.62, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Rosenblatt Securities restated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Benchmark restated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday. KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Wedbush reissued an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.38.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at $419,320,207.36. The trade was a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Insiders own 12.99% 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.