Strategic Planning Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 20.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,576 shares of the information services provider's stock after purchasing an additional 20,457 shares during the period. Alphabet makes up 3.5% of Strategic Planning Group LLC's portfolio, making the stock its 6th largest holding. Strategic Planning Group LLC's holdings in Alphabet were worth $21,566,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet during the 1st quarter valued at about $34,000. Institutional investors own 27.26% of the company's stock.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last quarter. Insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of several recent research reports. Scotiabank boosted their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group upped their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $230.35.
Read Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Shares of NASDAQ GOOG opened at $252.88 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.06 trillion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company's fifty day moving average price is $211.48 and its 200 day moving average price is $182.24.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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