WealthPlan Investment Management LLC Has $17.33 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

WealthPlan Investment Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,666 shares of the information services provider’s stock after buying an additional 21,996 shares during the period. Alphabet comprises 1.8% of WealthPlan Investment Management LLC’s portfolio, making the stock its 6th largest holding. WealthPlan Investment Management LLC’s holdings in Alphabet were worth $17,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Twelve Points Wealth Management LLC boosted its position in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC lifted its stake in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV raised its stake in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock worth $40,156,829 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $181.97 on Tuesday. The firm’s fifty day moving average is $165.25 and its two-hundred day moving average is $171.44. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The firm has a market cap of $2.23 trillion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. 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:GOOG) last issued 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the company earned $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.