Alphabet Inc. $GOOGL Shares Sold by S.E.E.D. Planning Group LLC

S.E.E.D. Planning Group LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,789 shares of the information services provider’s stock after selling 7,672 shares during the quarter. Alphabet makes up approximately 4.6% of S.E.E.D. Planning Group LLC’s investment portfolio, making the stock its 3rd largest position. S.E.E.D. Planning Group LLC’s holdings in Alphabet were worth $15,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parkwoods Wealth Partners LLC acquired a new stake in Alphabet in the third quarter valued at approximately $254,000. Financial Harvest LLC lifted its stake in shares of Alphabet by 4.1% in the 3rd quarter. Financial Harvest LLC now owns 2,312 shares of the information services provider’s stock valued at $562,000 after acquiring an additional 91 shares during the last quarter. Hutchinson Financial Advisors INC boosted its holdings in shares of Alphabet by 0.5% during the 3rd quarter. Hutchinson Financial Advisors INC now owns 15,645 shares of the information services provider’s stock valued at $3,803,000 after acquiring an additional 80 shares in the last quarter. Spartan Planning & Wealth Management grew its position in Alphabet by 78.4% during the 3rd quarter. Spartan Planning & Wealth Management now owns 10,121 shares of the information services provider’s stock worth $2,460,000 after acquiring an additional 4,449 shares during the last quarter. Finally, PFW Advisors LLC increased its holdings in Alphabet by 12.6% in the 3rd quarter. PFW Advisors LLC now owns 7,629 shares of the information services provider’s stock worth $1,855,000 after purchasing an additional 856 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $299.80, for a total transaction of $9,743,500.00. Following the completion of the sale, the chief executive officer directly owned 2,239,619 shares in the company, valued at $671,437,776.20. This represents a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 226,128 shares of company stock worth $63,183,331. Insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Citizens Jmp lifted their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $340.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Finally, HSBC lifted their price objective on shares of Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $315.90.

Alphabet Stock Down 0.2%

Shares of NASDAQ:GOOGL opened at $313.51 on Friday. The firm has a fifty day moving average price of $295.59 and a two-hundred day moving average price of $238.75. The company has a market cap of $3.78 trillion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.