BankPlus Wealth Management LLC Has $551,000 Stock Position in Alphabet Inc. $GOOG

BankPlus Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,106 shares of the information services provider’s stock after acquiring an additional 69 shares during the period. BankPlus Wealth Management LLC’s holdings in Alphabet were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crown Wealth Group LLC increased its position in Alphabet by 10.7% in the 2nd quarter. Crown Wealth Group LLC now owns 6,192 shares of the information services provider’s stock valued at $1,098,000 after acquiring an additional 597 shares during the period. Legend Financial Advisors Inc. acquired a new position in Alphabet in the 2nd quarter valued at approximately $50,000. CX Institutional increased its position in Alphabet by 0.8% in the 2nd quarter. CX Institutional now owns 36,475 shares of the information services provider’s stock valued at $6,470,000 after acquiring an additional 274 shares during the period. Meyer Handelman Co. increased its position in Alphabet by 3.3% in the 2nd quarter. Meyer Handelman Co. now owns 307,678 shares of the information services provider’s stock valued at $54,579,000 after acquiring an additional 9,875 shares during the period. Finally, Traveka Wealth LLC increased its position in Alphabet by 0.6% in the 2nd quarter. Traveka Wealth LLC now owns 11,229 shares of the information services provider’s stock valued at $1,992,000 after acquiring an additional 69 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOG. Scotiabank upped their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $230.35.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOG opened at $247.18 on Friday. The firm has a market cap of $2.99 trillion, a PE ratio of 26.32, a P/E/G ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company’s fifty day simple moving average is $216.61 and its 200 day simple moving average is $184.39. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.95%.

About Alphabet

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.