Plancorp LLC Buys 3,882 Shares of Alphabet Inc. $GOOGL

Key Points

• Plancorp LLC increased its stake in Alphabet Inc. by 14.1%, acquiring an additional 3,882 shares, bringing its total holdings to 31,439 shares worth approximately $5.54 million.
• Alphabet's shares opened at $246.54, with a market cap of $2.98 trillion and a P/E ratio of 26.26, indicating positive investment sentiment.
• The company recently declared a quarterly dividend of $0.21 per share, reflecting an annualized payout of $0.84 and a dividend yield of 0.3%.

Plancorp LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,439 shares of the information services provider's stock after purchasing an additional 3,882 shares during the quarter. Plancorp LLC's holdings in Alphabet were worth $5,541,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Motive Wealth Advisors boosted its holdings in shares of Alphabet by 12.1% in the 2nd quarter. Motive Wealth Advisors now owns 6,609 shares of the information services provider's stock valued at $1,165,000 after purchasing an additional 714 shares in the last quarter. Castleview Partners LLC boosted its holdings in shares of Alphabet by 11.9% in the 2nd quarter. Castleview Partners LLC now owns 1,477 shares of the information services provider's stock valued at $260,000 after purchasing an additional 157 shares in the last quarter. Exeter Financial LLC boosted its holdings in shares of Alphabet by 706.6% in the 2nd quarter. Exeter Financial LLC now owns 13,059 shares of the information services provider's stock valued at $2,301,000 after purchasing an additional 11,440 shares in the last quarter. Jeppson Wealth Management LLC boosted its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Jeppson Wealth Management LLC now owns 9,287 shares of the information services provider's stock valued at $1,637,000 after purchasing an additional 106 shares in the last quarter. Finally, LeConte Wealth Management LLC boosted its holdings in shares of Alphabet by 52.8% in the 2nd quarter. LeConte Wealth Management LLC now owns 5,139 shares of the information services provider's stock valued at $906,000 after purchasing an additional 1,775 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 0.3%

Shares of NASDAQ:GOOGL opened at $246.54 on Monday. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.26, a P/E/G ratio of 1.66 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The business has a fifty day simple moving average of $215.93 and a 200 day simple moving average of $183.28.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,866 shares of company stock valued at $52,363,610 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOOGL shares. Guggenheim raised their target price on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays raised their target price on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $201.00 target price on shares of Alphabet in a report on Wednesday, September 24th. Roth Capital increased their price target on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.44.

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.

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