Planning Center Inc. Sells 200 Shares of Alphabet Inc. $GOOG

Planning Center Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,881 shares of the information services provider’s stock after selling 200 shares during the quarter. Planning Center Inc.’s holdings in Alphabet were worth $334,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. RDA Financial Network grew its stake in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet during the second quarter worth about $213,000. Tower View Wealth Management LLC grew its stake in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after buying an additional 1,776 shares in the last quarter. Dock Street Asset Management Inc. grew its stake in Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after buying an additional 15,065 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 2.7%

NASDAQ:GOOG opened at $260.51 on Friday. The firm’s 50 day simple moving average is $237.33 and its 200 day simple moving average is $196.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $262.51. The company has a market cap of $3.15 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the company earned $1.89 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen increased their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Robert W. Baird increased their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.68.

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.