Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,173 shares of the information services provider’s stock after selling 2,177 shares during the period. Alphabet makes up about 0.8% of Belpointe Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Belpointe Asset Management LLC’s holdings in Alphabet were worth $12,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Consolidated Planning Corp grew its holdings in Alphabet by 4.9% during the 2nd quarter. Consolidated Planning Corp now owns 27,035 shares of the information services provider’s stock valued at $4,924,000 after buying an additional 1,264 shares during the last quarter. Strategy Asset Managers LLC grew its holdings in Alphabet by 10.9% during the 2nd quarter. Strategy Asset Managers LLC now owns 96,956 shares of the information services provider’s stock valued at $17,661,000 after buying an additional 9,556 shares during the last quarter. Community Bank & Trust Waco Texas grew its holdings in Alphabet by 1.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 49,059 shares of the information services provider’s stock valued at $8,936,000 after buying an additional 608 shares during the last quarter. Larson Financial Group LLC grew its holdings in Alphabet by 4.5% during the 2nd quarter. Larson Financial Group LLC now owns 17,769 shares of the information services provider’s stock valued at $3,237,000 after buying an additional 762 shares during the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Alphabet by 17.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 15,214 shares of the information services provider’s stock valued at $2,771,000 after buying an additional 2,302 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $159.32 on Wednesday. The firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50 day moving average of $166.25 and a 200-day moving average of $165.17. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada increased their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Mizuho raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Finally, TD Securities lifted their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,167 shares of company stock valued at $30,139,931. Insiders own 11.55% of the company’s stock.

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.