Spartan Planning & Wealth Management Has $760,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Spartan Planning & Wealth Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 44.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,866 shares of the information services provider's stock after selling 3,973 shares during the quarter. Spartan Planning & Wealth Management's holdings in Alphabet were worth $760,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GOOG. FMR LLC grew its stake in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its position in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp lifted its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after buying an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,270 shares of company stock valued at $26,553,563 over the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded down $1.87 during trading hours on Tuesday, reaching $168.50. 13,081,565 shares of the company's stock traded hands, compared to its average volume of 20,230,793. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The business's fifty day simple moving average is $160.95 and its two-hundred day simple moving average is $176.24.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for 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%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Scotiabank decreased their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five 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 $204.88.

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.