Spartan Planning & Wealth Management Buys Shares of 11,322 Alphabet Inc. (NASDAQ:GOOGL)

Spartan Planning & Wealth Management purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,322 shares of the information services provider’s stock, valued at approximately $2,143,000. Alphabet makes up 2.0% of Spartan Planning & Wealth Management’s holdings, making the stock its 16th largest holding.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. increased its stake in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Finally, Wulff Hansen & CO. grew its holdings in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock worth $27,996,356 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL traded down $0.62 during midday trading on Tuesday, hitting $196.25. 16,280,987 shares of the stock traded hands, compared to its average volume of 20,985,059. 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 Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The business’s 50 day moving average price is $180.84 and its two-hundred day moving average price is $172.60. The firm has a market capitalization of $2.40 trillion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOGL shares. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $206.82.

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.