Retirement Planning Group LLC Has $2.35 Million Position in Alphabet Inc. $GOOGL

Retirement Planning Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,331 shares of the information services provider’s stock after buying an additional 331 shares during the period. Retirement Planning Group LLC’s holdings in Alphabet were worth $2,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Invesco Ltd. boosted its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the last quarter. Deutsche Bank AG boosted its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. 11.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup reiterated a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research note on Thursday. Barclays reiterated an “overweight” rating and issued a $315.00 price target (up previously from $250.00) on shares of Alphabet in a research note on Thursday. Morgan Stanley increased their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday. Finally, Rosenblatt Securities increased their price target on shares of Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

Alphabet Stock Performance

NASDAQ GOOGL opened at $281.31 on Friday. The firm has a 50-day moving average of $244.00 and a 200-day moving average of $199.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.40 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

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.