Capital Wealth Planning LLC Buys 1,828 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Capital Wealth Planning LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 12.3% in the third quarter, Holdings Channel reports. The institutional investor owned 16,673 shares of the information services provider’s stock after acquiring an additional 1,828 shares during the period. Capital Wealth Planning LLC’s holdings in Alphabet were worth $2,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Spreng Capital Management Inc. raised its position in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. increased its position in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the period. Maple Capital Management Inc. increased its position in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the period. Private Advisory Group LLC increased its position in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management increased its position in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now directly owns 7,184 shares of the company’s stock, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the transaction, the director now directly owns 7,184 shares of the company’s stock, valued at $954,897.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,674 shares of company stock valued at $16,162,276. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Barclays cut their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler upped their price objective on Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Monness Crespi & Hardt lowered Alphabet from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Finally, Roth Mkm dropped their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Get Our Latest Analysis on Alphabet

Alphabet Trading Up 1.0 %

NASDAQ GOOGL opened at $145.54 on Thursday. Alphabet Inc. has a 52-week low of $88.57 and a 52-week high of $153.78. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.33 and a beta of 1.06. The firm has a 50-day moving average price of $140.11 and a 200 day moving average price of $135.36.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period last year, the company posted $1.05 earnings per share. Equities research analysts expect that Alphabet Inc. will post 6.76 EPS for the current year.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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