Hantz Financial Services Inc. Sells 11,331 Shares of Alphabet Inc. $GOOGL

Hantz Financial Services Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,649 shares of the information services provider’s stock after selling 11,331 shares during the quarter. Alphabet comprises approximately 0.9% of Hantz Financial Services Inc.’s investment portfolio, making the stock its 19th biggest holding. Hantz Financial Services Inc.’s holdings in Alphabet were worth $63,116,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. LifePlan Investment Advisors Inc. raised its holdings in Alphabet by 3.6% during the 4th quarter. LifePlan Investment Advisors Inc. now owns 2,500 shares of the information services provider’s stock worth $782,000 after buying an additional 87 shares during the period. Wealthquest Corp acquired a new stake in Alphabet during the 4th quarter worth approximately $2,650,000. Kuhn & Co Investment Counsel raised its holdings in Alphabet by 17.8% during the 4th quarter. Kuhn & Co Investment Counsel now owns 6,564 shares of the information services provider’s stock worth $2,055,000 after buying an additional 994 shares during the period. First National Trust Co raised its holdings in Alphabet by 0.9% during the 4th quarter. First National Trust Co now owns 270,983 shares of the information services provider’s stock worth $84,818,000 after buying an additional 2,373 shares during the period. Finally, Summit Asset Management LLC raised its holdings in Alphabet by 10.5% during the 4th quarter. Summit Asset Management LLC now owns 3,322 shares of the information services provider’s stock worth $1,040,000 after buying an additional 316 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Guggenheim restated a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Barclays restated a “buy” rating on shares of Alphabet in a report on Friday, May 29th. Phillip Securities raised their target price on shares of Alphabet from $340.00 to $395.00 and gave the stock a “moderate buy” rating in a report on Wednesday, April 15th. Finally, Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the transaction, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the transaction, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 193,016 shares of company stock valued at $17,282,549 over the last ninety days. Insiders own 11.61% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Alphabet Price Performance

NASDAQ GOOGL opened at $368.53 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a market capitalization of $4.47 trillion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. The firm’s 50 day moving average is $352.70 and its 200-day moving average is $328.11.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Equities research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.71%.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.