WealthPLAN Partners LLC Increases Stake in Alphabet Inc. $GOOGL

WealthPLAN Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,791 shares of the information services provider’s stock after acquiring an additional 2,420 shares during the quarter. WealthPLAN Partners LLC’s holdings in Alphabet were worth $2,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Nuveen LLC purchased a new stake in shares of Alphabet in the first quarter valued at $4,317,606,000. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Amundi raised its stake in shares of Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its stake in shares of Alphabet by 178.3% in the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after acquiring an additional 2,565,400 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Citigroup upped their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Sanford C. Bernstein upped their price target on shares of Alphabet from $210.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Friday. Finally, New Street Research upped their price target on shares of Alphabet from $275.00 to $295.00 in a report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $263.55.

Alphabet Trading Up 2.7%

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

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.