Investment Planning Advisors Inc. Reduces Holdings in Alphabet Inc. $GOOGL

Investment Planning Advisors Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,637 shares of the information services provider’s stock after selling 290 shares during the period. Investment Planning Advisors Inc.’s holdings in Alphabet were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL opened at $241.53 on Friday. The firm has a market cap of $2.92 trillion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The stock’s 50-day moving average is $225.37 and its two-hundred day moving average is $188.04. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Mizuho set a $295.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Wedbush boosted their price target on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, BNP Paribas Exane reissued a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Five equities research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.62.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 103 shares of the business’s 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 sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is currently owned by company insiders.

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.