S.E.E.D. Planning Group LLC Has $10.96 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

S.E.E.D. Planning Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,876 shares of the information services provider's stock after purchasing an additional 11,992 shares during the period. Alphabet makes up 3.7% of S.E.E.D. Planning Group LLC's holdings, making the stock its 6th biggest holding. S.E.E.D. Planning Group LLC's holdings in Alphabet were worth $10,960,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of GOOGL. Bennett Selby Investments LP grew its position in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after acquiring an additional 52 shares during the period. Macroview Investment Management LLC grew its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after acquiring an additional 52 shares during the period. Cornerstone Planning Group LLC grew its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after acquiring an additional 53 shares during the period. Addison Advisors LLC grew its position in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares during the period. Finally, Burt Wealth Advisors grew its position in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after acquiring an additional 54 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% 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 the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock valued at $26,772,774 over the last three months. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. BMO Capital Markets reissued an "outperform" rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Truist Financial lowered their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus lowered their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Down 1.2%

Alphabet stock traded down $2.13 during midday trading on Friday, hitting $169.73. The stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,980,356. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.06 trillion, a P/E ratio of 21.08, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The business has a fifty day moving average price of $159.10 and a 200 day moving average price of $174.59.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the company earned $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

About Alphabet

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.