S.E.E.D. Planning Group LLC Buys 1,585 Shares of Alphabet Inc. $GOOGL

S.E.E.D. Planning Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 72,461 shares of the information services provider’s stock after purchasing an additional 1,585 shares during the quarter. Alphabet comprises 4.0% of S.E.E.D. Planning Group LLC’s investment portfolio, making the stock its 6th biggest position. S.E.E.D. Planning Group LLC’s holdings in Alphabet were worth $12,770,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GK Wealth Management LLC boosted its holdings in shares of Alphabet by 12.2% during the 2nd quarter. GK Wealth Management LLC now owns 14,594 shares of the information services provider’s stock worth $2,572,000 after purchasing an additional 1,587 shares during the last quarter. O Connor Financial Group LLC boosted its holdings in shares of Alphabet by 11.2% during the 2nd quarter. O Connor Financial Group LLC now owns 1,752 shares of the information services provider’s stock worth $315,000 after purchasing an additional 177 shares during the last quarter. Trust Co. of Oklahoma boosted its holdings in shares of Alphabet by 1.1% during the 2nd quarter. Trust Co. of Oklahoma now owns 39,388 shares of the information services provider’s stock worth $6,941,000 after purchasing an additional 421 shares during the last quarter. Value Partners Investments Inc. boosted its holdings in shares of Alphabet by 8.8% during the 2nd quarter. Value Partners Investments Inc. now owns 492,378 shares of the information services provider’s stock worth $86,768,000 after purchasing an additional 39,921 shares during the last quarter. Finally, St. Clair Advisors LLC boosted its holdings in shares of Alphabet by 14.9% during the 2nd quarter. St. Clair Advisors LLC now owns 22,295 shares of the information services provider’s stock worth $3,929,000 after purchasing an additional 2,885 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. DA Davidson upped their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Bank of America upped their price objective on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.44.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL opened at $240.80 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The firm’s 50 day moving average price is $201.89 and its 200 day moving average price is $177.58. The firm has a market cap of $2.91 trillion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Alphabet Company 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.