Iams Wealth Management LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Iams Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 66.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,732 shares of the information services provider’s stock after selling 9,535 shares during the period. Iams Wealth Management LLC’s holdings in Alphabet were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Twelve Points Wealth Management LLC lifted its position in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC lifted its position in Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV lifted its position in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV lifted its position in Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The trade was a 0.00 % 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 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Pivotal Research initiated coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Scotiabank initiated coverage on shares of Alphabet in a research report on Friday. They set a “sector outperform” rating and a $212.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Up 1.1 %

Shares of GOOG opened at $166.35 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a 50 day simple moving average of $162.92 and a 200-day simple moving average of $169.47. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.

About Alphabet

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.