Plotkin Financial Advisors LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Plotkin Financial Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,377 shares of the information services provider’s stock, valued at approximately $892,000.

Other institutional investors have also added to or reduced their stakes in the company. Lantz Financial LLC grew its holdings in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares in the last quarter. Inspirion Wealth Advisors LLC grew its holdings in shares of Alphabet by 8.6% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 1,813 shares of the information services provider’s stock worth $330,000 after purchasing an additional 143 shares in the last quarter. Keystone Wealth Services LLC grew its holdings in shares of Alphabet by 1.5% during the 2nd quarter. Keystone Wealth Services LLC now owns 6,947 shares of the information services provider’s stock worth $1,265,000 after purchasing an additional 102 shares in the last quarter. MJP Associates Inc. ADV grew its holdings in shares of Alphabet by 9.9% during the 2nd quarter. MJP Associates Inc. ADV now owns 24,681 shares of the information services provider’s stock worth $4,496,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its position in shares of Alphabet by 21.2% during the 2nd quarter. Retirement Planning Group LLC now owns 11,981 shares of the information services provider’s stock worth $2,182,000 after buying an additional 2,092 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $191.96 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.35 trillion, a PE ratio of 25.46, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The company has a 50-day moving average price of $170.66 and a two-hundred day moving average price of $170.46.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,123 shares of company stock valued at $34,121,676. 11.55% of the stock is currently owned by corporate 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.