Planning Solutions Group LLC Decreases Holdings in Alphabet Inc (NASDAQ:GOOG)

Planning Solutions Group LLC decreased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 506 shares of the information services provider’s stock after selling 67 shares during the period. Planning Solutions Group LLC’s holdings in Alphabet were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Marietta Wealth Management LLC increased its stake in Alphabet by 48.5% during the 2nd quarter. Marietta Wealth Management LLC now owns 643 shares of the information services provider’s stock valued at $695,000 after purchasing an additional 210 shares in the last quarter. Curbstone Financial Management Corp increased its stake in shares of Alphabet by 4.3% in the second quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock worth $3,688,000 after acquiring an additional 140 shares during the period. Veritas Investment Management LLP increased its stake in shares of Alphabet by 2.8% in the second quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock worth $36,853,000 after acquiring an additional 936 shares during the period. FTB Advisors Inc. increased its stake in shares of Alphabet by 5.5% in the second quarter. FTB Advisors Inc. now owns 3,401 shares of the information services provider’s stock worth $3,676,000 after acquiring an additional 177 shares during the period. Finally, Gryphon Financial Partners LLC increased its stake in shares of Alphabet by 88.0% in the second quarter. Gryphon Financial Partners LLC now owns 549 shares of the information services provider’s stock worth $594,000 after acquiring an additional 257 shares during the period. 33.79% of the stock is owned by institutional investors.

In other Alphabet news, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1,179.44, for a total value of $1,887,104.00. Following the completion of the sale, the senior vice president now owns 44,482 shares of the company’s stock, valued at $52,463,850.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total value of $92,892.75. Following the completion of the sale, the director now directly owns 276 shares of the company’s stock, valued at approximately $341,845.32. The disclosure for this sale can be found here. In the last three months, insiders sold 3,744 shares of company stock valued at $4,480,345. 12.99% of the stock is owned by corporate insiders.

Shares of NASDAQ GOOG traded down $8.78 during mid-day trading on Friday, hitting $1,229.93. 1,573,080 shares of the company were exchanged, compared to its average volume of 1,163,267. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $1,192.78 and a 200-day simple moving average of $1,167.77. The firm has a market cap of $858.92 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.45 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter last year, the company earned $11.75 earnings per share. Alphabet’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts anticipate that Alphabet Inc will post 51.48 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on GOOG shares. Pivotal Research started coverage on shares of Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating on the stock. Credit Suisse Group increased their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Deutsche Bank increased their price objective on shares of Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Wedbush increased their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,378.93.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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