Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Fiduciary Planning LLC

Fiduciary Planning LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,072 shares of the information services provider’s stock after selling 147 shares during the quarter. Alphabet makes up approximately 0.6% of Fiduciary Planning LLC’s holdings, making the stock its 26th largest holding. Fiduciary Planning LLC’s holdings in Alphabet were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Cahill Financial Advisors Inc. increased its position in Alphabet by 12.8% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 3,243 shares of the information services provider’s stock valued at $591,000 after buying an additional 367 shares in the last quarter. HCR Wealth Advisors increased its position in Alphabet by 1.4% during the 2nd quarter. HCR Wealth Advisors now owns 96,756 shares of the information services provider’s stock valued at $17,624,000 after buying an additional 1,324 shares in the last quarter. NRI Wealth Management LC acquired a new position in Alphabet during the 2nd quarter valued at about $226,000. Quest Partners LLC grew its stake in Alphabet by 70.4% during the 2nd quarter. Quest Partners LLC now owns 9,144 shares of the information services provider’s stock valued at $1,666,000 after purchasing an additional 3,779 shares during the last quarter. Finally, Adapt Wealth Advisors LLC purchased a new stake in Alphabet during the 2nd quarter valued at about $244,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Monday, September 16th. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Bank of America boosted their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,167 shares of company stock worth $29,762,606. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

GOOGL opened at $163.59 on Monday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The business has a fifty day simple moving average of $164.72 and a 200-day simple moving average of $165.79. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the business posted $1.44 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.