Consolidated Planning Corp Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Consolidated Planning Corp raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,568 shares of the information services provider's stock after acquiring an additional 4,324 shares during the quarter. Consolidated Planning Corp's holdings in Alphabet were worth $4,882,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Park Capital Management LLC WI boosted its stake in shares of Alphabet by 10.9% during the 1st quarter. Park Capital Management LLC WI now owns 5,940 shares of the information services provider's stock worth $919,000 after acquiring an additional 583 shares in the last quarter. CV Advisors LLC increased its stake in Alphabet by 4.6% in the 1st quarter. CV Advisors LLC now owns 76,213 shares of the information services provider's stock valued at $11,786,000 after purchasing an additional 3,366 shares in the last quarter. XML Financial LLC raised its holdings in Alphabet by 7.9% during the first quarter. XML Financial LLC now owns 30,368 shares of the information services provider's stock worth $4,696,000 after purchasing an additional 2,220 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in Alphabet by 3.0% in the first quarter. Brown Lisle Cummings Inc. now owns 51,006 shares of the information services provider's stock valued at $7,888,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Sawgrass Asset Management LLC grew its holdings in Alphabet by 12.7% in the first quarter. Sawgrass Asset Management LLC now owns 258,923 shares of the information services provider's stock valued at $40,040,000 after purchasing an additional 29,099 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,195 shares of company stock worth $35,764,898. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $173.54 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 19.35, a P/E/G ratio of 1.09 and a beta of 1.01. The business's 50-day simple moving average is $165.90 and its 200-day simple moving average is $174.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the company posted $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GOOGL shares. DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Piper Sandler increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Finally, KeyCorp raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $200.17.

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.

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