LifePlan Financial LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

LifePlan Financial LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,344 shares of the information services provider’s stock after selling 119 shares during the quarter. Alphabet makes up approximately 1.3% of LifePlan Financial LLC’s portfolio, making the stock its 21st biggest position. LifePlan Financial LLC’s holdings in Alphabet were worth $1,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Abacus Wealth Partners LLC raised its stake in shares of Alphabet by 14.4% during the third quarter. Abacus Wealth Partners LLC now owns 3,784 shares of the information services provider’s stock valued at $628,000 after acquiring an additional 476 shares during the last quarter. Granite Bay Wealth Management LLC raised its position in Alphabet by 10.8% during the 3rd quarter. Granite Bay Wealth Management LLC now owns 2,174 shares of the information services provider’s stock valued at $361,000 after purchasing an additional 212 shares during the last quarter. CJM Wealth Advisers Ltd. raised its position in Alphabet by 14.3% during the 3rd quarter. CJM Wealth Advisers Ltd. now owns 4,634 shares of the information services provider’s stock valued at $769,000 after purchasing an additional 580 shares during the last quarter. Apella Capital LLC grew its position in shares of Alphabet by 4.4% in the 3rd quarter. Apella Capital LLC now owns 7,977 shares of the information services provider’s stock worth $1,323,000 after buying an additional 337 shares during the last quarter. Finally, Delta Financial Group Inc. increased its stake in shares of Alphabet by 1.0% during the third quarter. Delta Financial Group Inc. now owns 17,894 shares of the information services provider’s stock valued at $2,968,000 after buying an additional 184 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOGL. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Monday, October 7th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $200.95.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $163.24 on Monday. The stock’s fifty day moving average is $161.37 and its 200 day moving average is $167.86. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the firm earned $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is 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.