Alphabet Inc. $GOOG is WealthPlan Investment Management LLC's 6th Largest Position

Key Points

• WealthPlan Investment Management LLC increased its investment in Alphabet Inc. by 13.6% in the second quarter, now holding a total of 122,705 shares worth approximately $21.77 million, making it the firm's 6th largest position.
• Insider transactions revealed that directors sold a combined total of over 243,000 shares during the last quarter, indicating a 0.59% and 10.50% decrease in holdings for two specific directors.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3%, while its payout ratio stands at 8.95%.

WealthPlan Investment Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,705 shares of the information services provider's stock after acquiring an additional 14,674 shares during the period. Alphabet accounts for about 1.6% of WealthPlan Investment Management LLC's holdings, making the stock its 6th biggest position. WealthPlan Investment Management LLC's holdings in Alphabet were worth $21,767,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Pettinga Financial Advisors LLC grew its stake in Alphabet by 0.8% during the second quarter. Pettinga Financial Advisors LLC now owns 13,151 shares of the information services provider's stock valued at $2,333,000 after acquiring an additional 98 shares in the last quarter. Variant Private Wealth LLC grew its stake in Alphabet by 5.1% during the second quarter. Variant Private Wealth LLC now owns 4,568 shares of the information services provider's stock valued at $810,000 after acquiring an additional 221 shares in the last quarter. Callahan Advisors LLC grew its stake in Alphabet by 2.7% during the second quarter. Callahan Advisors LLC now owns 272,430 shares of the information services provider's stock valued at $48,326,000 after acquiring an additional 7,278 shares in the last quarter. Davidson Investment Advisors grew its stake in Alphabet by 0.5% during the second quarter. Davidson Investment Advisors now owns 474,914 shares of the information services provider's stock valued at $84,245,000 after acquiring an additional 2,549 shares in the last quarter. Finally, Uptick Partners LLC grew its stake in Alphabet by 38.6% during the second quarter. Uptick Partners LLC now owns 5,729 shares of the information services provider's stock valued at $1,016,000 after acquiring an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,372 shares of company stock worth $55,110,740. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.8%

Shares of GOOG opened at $253.79 on Friday. The firm has a market cap of $3.07 trillion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58. The firm has a 50 day moving average price of $232.18 and a 200-day moving average price of $192.97.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.68.

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.

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