IHT Wealth Management LLC grew its stake in Alphabet Inc (NASDAQ:GOOG) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,019 shares of the information services provider’s stock after buying an additional 231 shares during the period. IHT Wealth Management LLC’s holdings in Alphabet were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Lighthouse Financial Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $25,000. Cox Capital Mgt LLC acquired a new stake in Alphabet during the first quarter worth approximately $27,000. Cedar Mountain Advisors LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $43,000. Cordasco Financial Network grew its stake in Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after purchasing an additional 9 shares during the period. Finally, HighMark Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $44,000. 33.00% of the stock is owned by institutional investors.
Shares of GOOG stock traded up $0.22 during trading hours on Monday, reaching $1,429.14. The company had a trading volume of 850,899 shares, compared to its average volume of 1,490,917. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,532.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The business has a fifty day simple moving average of $1,324.33 and a 200-day simple moving average of $1,336.35. The company has a market cap of $975.41 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 2.14 and a beta of 1.06.
In related news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now directly owns 592 shares in the company, valued at $807,257.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 61 shares of Alphabet stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,397.68, for a total value of $85,258.48. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at $542,299.84. The disclosure for this sale can be found here. Insiders have sold 294 shares of company stock worth $367,821 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.
GOOG has been the subject of several recent analyst reports. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, April 29th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. Piper Sandler increased their price target on Alphabet from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,580.52.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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