Investment Planning Advisors Inc. Takes $440,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Investment Planning Advisors Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,416 shares of the information services provider’s stock, valued at approximately $440,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC increased its holdings in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.9 %

GOOGL stock opened at $164.68 on Wednesday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $174.51 and its 200-day moving average is $163.44. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.26, a P/E/G ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business posted $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on GOOGL shares. Roth Mkm lifted their target price on shares of Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Loop Capital restated a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock worth $26,823,893 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.