WealthPLAN Partners LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)


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WealthPLAN Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,928 shares of the information services provider’s stock after selling 159 shares during the period. Alphabet comprises 1.4% of WealthPLAN Partners LLC’s investment portfolio, making the stock its 14th biggest position. WealthPLAN Partners LLC’s holdings in Alphabet were worth $16,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. LSV Asset Management increased its position in Alphabet by 16.0% during the third quarter. LSV Asset Management now owns 2,610 shares of the information services provider’s stock worth $3,835,000 after buying an additional 360 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Alphabet by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $6,500,000 after buying an additional 153 shares in the last quarter. Spectrum Wealth Advisory Group LLC purchased a new position in Alphabet during the third quarter worth $352,000. MAI Capital Management increased its position in Alphabet by 0.9% during the third quarter. MAI Capital Management now owns 39,506 shares of the information services provider’s stock worth $58,059,000 after buying an additional 351 shares in the last quarter. Finally, Baskin Financial Services Inc. increased its position in Alphabet by 2.9% during the third quarter. Baskin Financial Services Inc. now owns 22,626 shares of the information services provider’s stock worth $33,251,000 after buying an additional 636 shares in the last quarter. 31.94% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the company. Oppenheimer restated a “buy” rating and set a $1,800.00 price objective on shares of Alphabet in a report on Friday, October 30th. Citigroup restated a “buy” rating on shares of Alphabet in a report on Friday, February 12th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, February 3rd. Finally, Credit Suisse Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $2,184.71.

Shares of GOOG traded down $12.84 during midday trading on Tuesday, reaching $2,052.04. 49,551 shares of the company were exchanged, compared to its average volume of 1,637,658. The stock has a 50-day moving average price of $1,922.66 and a 200-day moving average price of $1,706.52. The company has a market cap of $1.38 trillion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a 1-year low of $1,013.54 and a 1-year high of $2,152.68. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $15.91 by $6.39. The firm had revenue of $56.90 billion during the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. Alphabet’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company earned $15.35 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current year.

In other Alphabet news, Director Ann Mather sold 22 shares of the company’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $1,774.37, for a total value of $39,036.14. Following the completion of the sale, the director now directly owns 1,144 shares in the company, valued at $2,029,879.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 30 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $1,764.42, for a total value of $52,932.60. Following the completion of the sale, the chief accounting officer now owns 846 shares of the company’s stock, valued at $1,492,699.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,999 shares of company stock valued at $5,434,607. Insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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