Consolidated Planning Corp Purchases 883 Shares of Alphabet Inc. $GOOGL

Consolidated Planning Corp boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,451 shares of the information services provider’s stock after purchasing an additional 883 shares during the period. Consolidated Planning Corp’s holdings in Alphabet were worth $5,719,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Missouri Trust & Investment Co lifted its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the period. Bfsg LLC lifted its holdings in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares during the period. Enzi Wealth lifted its holdings in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after buying an additional 62 shares during the period. Finally, Powers Advisory Group LLC increased its stake in Alphabet by 1.8% in the second quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider’s stock valued at $628,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOGL. Truist Financial boosted their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. BMO Capital Markets raised their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group lifted their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $242.98.

Alphabet Price Performance

Alphabet stock opened at $244.62 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.66 and a beta of 1.00. The firm’s fifty day moving average is $224.37 and its 200 day moving average is $187.53.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Alphabet Profile

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.