Belpointe Asset Management LLC Lowers Position in Alphabet Inc. $GOOGL

Belpointe Asset Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,868 shares of the information services provider’s stock after selling 4,592 shares during the quarter. Belpointe Asset Management LLC’s holdings in Alphabet were worth $12,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,838 shares of company stock worth $53,070,333. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.5%

Alphabet stock opened at $245.45 on Wednesday. The business has a fifty day moving average of $228.31 and a two-hundred day moving average of $189.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOGL. Truist Financial lifted their target price on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Westpark Capital lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Needham & Company LLC lifted their target price on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Sanford C. Bernstein lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Finally, Cantor Fitzgerald lifted their target price on Alphabet from $201.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $249.26.

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.