Spartan Planning & Wealth Management Takes $1.68 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Spartan Planning & Wealth Management purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,839 shares of the information services provider’s stock, valued at approximately $1,683,000. Alphabet comprises 1.5% of Spartan Planning & Wealth Management’s holdings, making the stock its 20th largest position.

Other large investors also recently modified their holdings of the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.3 %

Shares of GOOG traded down $0.52 during trading on Tuesday, reaching $197.44. 9,390,293 shares of the company traded hands, compared to its average volume of 14,780,861. The stock has a 50-day simple moving average of $182.36 and a 200-day simple moving average of $174.11. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The stock has a market cap of $2.42 trillion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,887 shares of company stock worth $27,996,356. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.