Planning Alternatives Ltd. ADV Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Planning Alternatives Ltd. ADV acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,002 shares of the information services provider's stock, valued at approximately $464,000.

Other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter valued at $39,000. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other news, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,219 shares of company stock valued at $49,674,273. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.2%

Shares of NASDAQ:GOOGL opened at $203.34 on Wednesday. The stock has a market capitalization of $2.46 trillion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The stock's 50-day moving average price is $182.27 and its 200-day moving average price is $173.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. 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 presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. BMO Capital Markets upped their price objective on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley increased their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Rosenblatt Securities boosted their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Ten equities research 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

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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