WealthPlan Investment Management LLC Purchases 5,878 Shares of Alphabet Inc. $GOOGL

WealthPlan Investment Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 28.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,652 shares of the information services provider’s stock after buying an additional 5,878 shares during the period. WealthPlan Investment Management LLC’s holdings in Alphabet were worth $4,697,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co raised its holdings in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC raised its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC raised its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares in the last quarter. Financial Council LLC raised its holdings in Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth raised its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOGL shares. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Needham & Company LLC lifted their price objective on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Friday. Truist Financial lifted their price objective on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $280.00 price objective (up from $210.00) on shares of Alphabet in a report on Friday, October 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.55.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.7%

NASDAQ GOOGL opened at $259.92 on Monday. The firm has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68. The stock’s 50 day simple moving average is $236.72 and its 200 day simple moving average is $195.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet 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.