Independent Wealth Network Inc. Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Independent Wealth Network Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,854 shares of the information services provider’s stock after purchasing an additional 114 shares during the quarter. Independent Wealth Network Inc.’s holdings in Alphabet were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in Alphabet during the third quarter valued at about $32,000. Denver PWM LLC grew its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC raised its holdings in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 4.2 %

NASDAQ:GOOGL opened at $191.81 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.35 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a 50-day moving average of $186.46 and a 200 day moving average of $173.57. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on GOOGL shares. Piper Sandler reiterated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. KeyCorp lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Morgan Stanley raised their price target on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.82.

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.