Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Retirement Planning Group LLC

Posted by on Oct 13th, 2023

Retirement Planning Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,334 shares of the information services provider’s stock after selling 111 shares during the quarter. Retirement Planning Group LLC’s holdings in Alphabet were worth $1,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in shares of Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after acquiring an additional 4,420 shares during the last quarter. Atria Investments Inc increased its position in shares of Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after acquiring an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC grew its stake in shares of Alphabet by 3.4% in the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after buying an additional 136 shares in the last quarter. Hallmark Capital Management Inc. grew its stake in shares of Alphabet by 8.9% in the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after buying an additional 13,605 shares in the last quarter. Finally, Marcum Wealth LLC grew its stake in shares of Alphabet by 4.8% in the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares in the company, valued at $700,287.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders sold a total of 101,091 shares of company stock valued at $13,530,462 over the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $138.97 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $141.22. The company has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The firm has a 50-day simple moving average of $133.33 and a 200-day simple moving average of $122.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. 888 reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Robert W. Baird lifted their price objective on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Citigroup lifted their price objective on shares of Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. Finally, Piper Sandler lowered their target price on Alphabet from $148.00 to $147.00 and set an “overweight” rating for the company in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.00.

View Our Latest Stock Analysis on GOOGL

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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