WealthPLAN Partners LLC Buys 385 Shares of Alphabet Inc. (NASDAQ:GOOGL)

WealthPLAN Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,653 shares of the information services provider’s stock after acquiring an additional 385 shares during the quarter. WealthPLAN Partners LLC’s holdings in Alphabet were worth $1,933,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOGL. GSA Capital Partners LLP grew its stake in Alphabet by 128.3% in the third quarter. GSA Capital Partners LLP now owns 35,356 shares of the information services provider’s stock valued at $5,864,000 after acquiring an additional 19,866 shares during the period. Waverton Investment Management Ltd lifted its holdings in shares of Alphabet by 11.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,927,652 shares of the information services provider’s stock valued at $319,817,000 after purchasing an additional 190,805 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Alphabet by 2.0% in the 3rd quarter. Harbour Investments Inc. now owns 53,930 shares of the information services provider’s stock valued at $8,944,000 after purchasing an additional 1,079 shares during the period. Apollon Wealth Management LLC increased its stake in Alphabet by 3.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 186,885 shares of the information services provider’s stock worth $30,995,000 after purchasing an additional 7,027 shares in the last quarter. Finally, Keystone Financial Services raised its holdings in Alphabet by 9.1% during the 3rd quarter. Keystone Financial Services now owns 2,526 shares of the information services provider’s stock worth $419,000 after buying an additional 210 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $167.65 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company’s 50 day moving average price is $167.83 and its two-hundred day moving average price is $170.34. The firm has a market cap of $2.05 trillion, a PE ratio of 22.23, a PEG ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 over the last quarter. 11.55% of the stock is owned by company insiders.

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.