WealthPlan Investment Management LLC Sells 12,400 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 16th, 2023

WealthPlan Investment Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 37.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,420 shares of the information services provider’s stock after selling 12,400 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Alphabet were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Live Oak Investment Partners bought a new position in Alphabet in the fourth quarter worth $26,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet in the fourth quarter worth $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet in the third quarter worth $38,000. IAG Wealth Partners LLC raised its holdings in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Alphabet in the fourth quarter worth $44,000. Institutional investors own 35.38% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 220 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the sale, the director now owns 4,759 shares of the company’s stock, valued at $579,408.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,790 shares of company stock valued at $11,250,754. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. The Goldman Sachs Group increased their price objective on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Evercore ISI increased their price objective on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $123.00 to $132.00 in a report on Monday, June 26th. JMP Securities raised their price target on Alphabet from $132.00 to $138.00 and gave the company a “market outperform” rating in a report on Wednesday, July 26th. Finally, TD Cowen raised their price target on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.19.

Read Our Latest Analysis on Alphabet

Alphabet Stock Performance

NASDAQ:GOOGL opened at $129.78 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $133.74. The stock’s 50 day simple moving average is $124.11 and its two-hundred day simple moving average is $111.84. The company has a market cap of $1.64 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.49 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 5.67 earnings per share for the current fiscal year.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

WealthPlan Investment Management LLC Sells 12,400 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Insider Activity

Wall Street Analyst Weigh In

Alphabet Stock Performance

Alphabet Company Profile

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