Capital Planning LLC Makes New $412,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Capital Planning LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,730 shares of the information services provider’s stock, valued at approximately $412,000.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $38,000. Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the period. Armor Investment Advisors LLC lifted its holdings in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders sold 146,374 shares of company stock worth $24,548,073. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Rosenblatt Securities lifted their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, May 15th. Mizuho lifted their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Wedbush lifted their price target on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of Alphabet in a report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Alphabet Price Performance

Shares of GOOGL opened at $184.03 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a 50 day simple moving average of $171.13 and a 200 day simple moving average of $153.36. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $184.29. The firm has a market capitalization of $2.27 trillion, a PE ratio of 28.23, a P/E/G ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

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.