Spartan Planning & Wealth Management Buys 3,387 Shares of Alphabet Inc. (NASDAQ:GOOG)

Spartan Planning & Wealth Management raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 74.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,920 shares of the information services provider’s stock after purchasing an additional 3,387 shares during the period. Alphabet makes up about 1.2% of Spartan Planning & Wealth Management’s portfolio, making the stock its 18th largest holding. Spartan Planning & Wealth Management’s holdings in Alphabet were worth $1,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $26,000. Partnership Wealth Management LLC bought a new stake in Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the 4th quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $165.67.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock worth $25,731,103 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

Shares of GOOG opened at $178.78 on Tuesday. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The business’s fifty day moving average is $170.11 and its 200-day moving average is $152.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.21 trillion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend 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.