Planning Center Inc. Lowers Stock Holdings in Alphabet Inc. $GOOGL

Planning Center Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,208 shares of the information services provider’s stock after selling 181 shares during the period. Planning Center Inc.’s holdings in Alphabet were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% during the first 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 during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter worth about $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $283.72 on Tuesday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The business has a 50-day moving average of $245.50 and a 200-day moving average of $201.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 222,442 shares of company stock worth $51,200,307. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on GOOGL shares. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. JMP Securities restated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research note on Wednesday, October 22nd. KeyCorp restated an “overweight” rating and set a $300.00 price target (up from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Wolfe Research restated an “outperform” rating and set a $350.00 price target (up from $290.00) on shares of Alphabet in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $302.20.

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.