Next Level Wealth Planning LLC Takes Position in Alphabet Inc. $GOOG

Next Level Wealth Planning LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,206 shares of the information services provider’s stock, valued at approximately $214,000.

Several other hedge funds have also added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth $26,000. IFS Advisors LLC raised its stake in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley raised its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter worth $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was 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 owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $245.46 on Thursday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.67 and a beta of 1.00. The business has a 50-day moving average of $225.03 and a 200-day moving average of $188.71. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

Several analysts recently commented on GOOG shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen lifted their price target on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.68.

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.