Planning Capital Management Corp Sells 1,093 Shares of Alphabet Inc. (NASDAQ:GOOG)

Planning Capital Management Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.0% during the third quarter, Holdings Channel.com reports. The firm owned 4,994 shares of the information services provider’s stock after selling 1,093 shares during the period. Planning Capital Management Corp’s holdings in Alphabet were worth $835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Activity

In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,495 shares of company stock worth $34,586,641 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.5 %

Shares of Alphabet stock opened at $180.49 on Thursday. The stock has a market cap of $2.21 trillion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a fifty day moving average price of $166.20 and a 200 day moving average price of $171.57. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Alphabet 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.