IMZ Advisory Inc Has $331,000 Position in Alphabet Inc. (NASDAQ:GOOG)

IMZ Advisory Inc cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,738 shares of the information services provider’s stock after selling 119 shares during the quarter. IMZ Advisory Inc’s holdings in Alphabet were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Sunburst Financial Group LLC raised its position in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC increased its stake in shares of Alphabet by 2.6% during the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after buying an additional 60 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Alphabet by 0.7% during the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after acquiring an additional 60 shares in the last quarter. Phillips Financial Management LLC lifted its stake in Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after acquiring an additional 61 shares during the period. Finally, Goodman Advisory Group LLC boosted its holdings in Alphabet by 2.3% in the third quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after acquiring an additional 61 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock valued at $23,817,951 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.6 %

NASDAQ:GOOG opened at $191.05 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.34 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The firm has a 50-day simple moving average of $184.95 and a two-hundred day simple moving average of $174.55.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.