Quantum Financial Planning Services Inc. Purchases Shares of 2,633 Alphabet Inc. (NASDAQ:GOOGL)

Quantum Financial Planning Services Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,633 shares of the information services provider’s stock, valued at approximately $498,000. Alphabet comprises 0.3% of Quantum Financial Planning Services Inc.’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Strategic Advocates LLC grew its stake in Alphabet by 2.8% in the 4th quarter. Strategic Advocates LLC now owns 23,495 shares of the information services provider’s stock valued at $4,448,000 after acquiring an additional 645 shares during the period. Luken Investment Analytics LLC lifted its stake in shares of Alphabet by 25.0% in the fourth quarter. Luken Investment Analytics LLC now owns 750 shares of the information services provider’s stock worth $142,000 after buying an additional 150 shares in the last quarter. Oak Harvest Investment Services boosted its position in Alphabet by 23.7% during the fourth quarter. Oak Harvest Investment Services now owns 38,428 shares of the information services provider’s stock worth $7,274,000 after acquiring an additional 7,356 shares during the last quarter. Fortune Financial Advisors LLC grew its stake in Alphabet by 1.4% during the 4th quarter. Fortune Financial Advisors LLC now owns 19,808 shares of the information services provider’s stock valued at $3,750,000 after acquiring an additional 270 shares in the last quarter. Finally, FSA Advisors Inc. raised its holdings in Alphabet by 25.4% in the 4th quarter. FSA Advisors Inc. now owns 2,136 shares of the information services provider’s stock valued at $404,000 after acquiring an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 3.3 %

GOOGL opened at $185.34 on Friday. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The business’s 50-day simple moving average is $191.28 and its 200-day simple moving average is $174.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Truist Financial boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.