IMS Capital Management Has $2.27 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

IMS Capital Management raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,577 shares of the information services provider’s stock after buying an additional 1,192 shares during the quarter. Alphabet comprises 1.0% of IMS Capital Management’s investment portfolio, making the stock its 26th largest holding. IMS Capital Management’s holdings in Alphabet were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GOOGL. Comerica Bank raised its holdings in Alphabet by 2.8% in the 4th quarter. Comerica Bank now owns 1,520,118 shares of the information services provider’s stock valued at $212,345,000 after acquiring an additional 41,965 shares in the last quarter. Clear Street Markets LLC increased its position in shares of Alphabet by 125.4% during the fourth quarter. Clear Street Markets LLC now owns 684 shares of the information services provider’s stock valued at $96,000 after purchasing an additional 3,374 shares during the period. Bridgefront Capital LLC raised its stake in shares of Alphabet by 84.2% in the fourth quarter. Bridgefront Capital LLC now owns 3,949 shares of the information services provider’s stock valued at $552,000 after purchasing an additional 1,805 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Alphabet in the fourth quarter worth $2,541,000. Finally, Blackstone Inc. boosted its stake in Alphabet by 15.8% during the fourth quarter. Blackstone Inc. now owns 110,000 shares of the information services provider’s stock worth $15,366,000 after buying an additional 15,000 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction 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 owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,092 shares of company stock worth $35,644,136. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $162.08 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.00 trillion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business’s fifty day moving average is $161.62 and its 200-day moving average is $167.57.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current 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. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. TD Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Bank of America raised their target price on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Argus upped their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.95.

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.