Spartan Planning & Wealth Management trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,139 shares of the information services provider's stock after selling 5,183 shares during the period. Alphabet makes up 0.9% of Spartan Planning & Wealth Management's investment portfolio, making the stock its 27th largest holding. Spartan Planning & Wealth Management's holdings in Alphabet were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Compass Planning Associates Inc purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter worth $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,270 shares of company stock worth $26,553,563 over the last 90 days. Company insiders own 11.64% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Stifel Nicolaus reduced their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Citigroup raised their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. DA Davidson reduced their price target 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. Finally, Cantor Fitzgerald reduced their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.
Read Our Latest Report on Alphabet
Alphabet Trading Down 1.2%
NASDAQ:GOOGL traded down $2.01 on Tuesday, reaching $167.02. 23,360,124 shares of the company's stock were exchanged, compared to its average volume of 29,961,522. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business has a fifty day moving average of $159.18 and a 200-day moving average of $174.53. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently declared 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. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Alphabet Company Profile
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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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