Beaumont Asset Management L.L.C. Has $5.23 Million Stake in Alphabet Inc. $GOOGL

Beaumont Asset Management L.L.C. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,664 shares of the information services provider’s stock after selling 2,448 shares during the quarter. Alphabet makes up about 2.8% of Beaumont Asset Management L.L.C.’s holdings, making the stock its 8th biggest position. Beaumont Asset Management L.L.C.’s holdings in Alphabet were worth $5,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Columbus Macro LLC boosted its stake in Alphabet by 10.1% in the second quarter. Columbus Macro LLC now owns 3,117 shares of the information services provider’s stock valued at $549,000 after acquiring an additional 286 shares during the last quarter. Hager Investment Management Services LLC increased its holdings in Alphabet by 1.1% during the 2nd quarter. Hager Investment Management Services LLC now owns 28,014 shares of the information services provider’s stock worth $4,937,000 after acquiring an additional 297 shares during the period. Cohen Investment Advisors LLC increased its holdings in shares of Alphabet by 3.9% in the 2nd quarter. Cohen Investment Advisors LLC now owns 30,858 shares of the information services provider’s stock worth $5,438,000 after buying an additional 1,146 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Alphabet by 2.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 281,932 shares of the information services provider’s stock worth $49,685,000 after buying an additional 6,542 shares during the last quarter. Finally, Dempze Nancy E boosted its stake in shares of Alphabet by 1.2% in the 2nd quarter. Dempze Nancy E now owns 34,618 shares of the information services provider’s stock valued at $6,101,000 after purchasing an additional 396 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOOGL shares. Barclays upped their price objective on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Wells Fargo & Company set a $236.00 price target on shares of Alphabet and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Citigroup raised their price objective on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, KeyCorp raised their price target on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $252.24.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $253.30 on Friday. The company has a market capitalization of $3.06 trillion, a P/E ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 1.00. 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 1-year low of $140.53 and a 1-year high of $256.96. The firm’s 50 day simple moving average is $231.55 and its two-hundred day simple moving average is $191.85.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last quarter. Insiders own 11.64% of the company’s stock.

About Alphabet

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.