WealthPlan Investment Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

WealthPlan Investment Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the 3rd quarter, Holdings Channel reports. The firm owned 20,057 shares of the information services provider’s stock after buying an additional 891 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Alphabet were worth $3,326,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC increased its stake in Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC increased its stake in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. First PREMIER Bank raised its holdings in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares in the last quarter. Finally, MKT Advisors LLC lifted its position in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL opened at $167.65 on Tuesday. 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 company has a market cap of $2.05 trillion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. The stock has a 50-day moving average of $167.83 and a 200-day moving average of $170.34. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s payout ratio is presently 10.61%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Bank of America upped their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Piper Sandler reissued an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last quarter. 11.55% of the stock is currently owned by company insiders.

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.