Walled Lake Planning & Wealth Management LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Walled Lake Planning & Wealth Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,345 shares of the information services provider’s stock after selling 83 shares during the period. Alphabet comprises 1.2% of Walled Lake Planning & Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Alphabet were worth $3,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. raised its holdings in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co increased its position in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at about $3,119,000. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC grew its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after acquiring an additional 403 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock valued at $49,474,273 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. Wells Fargo & Company boosted their price target on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Sanford C. Bernstein raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Citigroup boosted their price target on shares of Alphabet from $203.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Guggenheim boosted their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.53.

Alphabet Stock Up 0.7%

Shares of GOOGL opened at $196.09 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.37 trillion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company’s 50-day moving average price is $179.76 and its 200 day moving average price is $173.12. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.