Walled Lake Planning & Wealth Management LLC Has $738,000 Position in Alphabet Inc. $GOOG

Walled Lake Planning & Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,162 shares of the information services provider’s stock after selling 1,171 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in Alphabet were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. RDA Financial Network increased its holdings in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the period. Bleakley Financial Group LLC grew its position in Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after buying an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC bought a new position in Alphabet during the 2nd quarter worth $213,000. Tower View Wealth Management LLC increased its stake in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. lifted its position in shares of Alphabet by 0.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 3.3%

Shares of Alphabet stock opened at $299.65 on Friday. The firm’s 50 day moving average is $262.98 and its 200 day moving average is $214.24. The firm has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $2.12 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,952 shares of company stock valued at $58,896,009 over the last quarter. 12.99% of the stock is owned by company insiders.

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.