Asset Planning Inc Decreases Stock Holdings in Alphabet Inc. $GOOG

Asset Planning Inc reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the second quarter, HoldingsChannel reports. The firm owned 5,406 shares of the information services provider’s stock after selling 64 shares during the period. Alphabet makes up approximately 0.7% of Asset Planning Inc’s investment portfolio, making the stock its 25th largest position. Asset Planning Inc’s holdings in Alphabet were worth $959,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. RDA Financial Network raised its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares during the last quarter. Tower View Wealth Management LLC raised its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet in the second quarter valued at about $213,000. Truist Financial Corp raised its stake in Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after buying an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC raised its stake in Alphabet by 115.7% in the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after buying an additional 115,003 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.6%

Shares of NASDAQ:GOOG opened at $246.19 on Wednesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The stock has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $228.96 and a 200-day moving average price of $191.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,838 shares of company stock valued at $53,070,333 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.00.

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.