Clearstead Trust LLC Purchases 3,375 Shares of Alphabet Inc. $GOOGL

Clearstead Trust LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,337 shares of the information services provider’s stock after buying an additional 3,375 shares during the period. Alphabet comprises 2.0% of Clearstead Trust LLC’s portfolio, making the stock its 10th largest holding. Clearstead Trust LLC’s holdings in Alphabet were worth $10,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. Cantor Fitzgerald upped their price target on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Moffett Nathanson upped their price objective on Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities increased their target price on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Citizens Jmp boosted their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Needham & Company LLC upped their price target on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.84.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.5%

Shares of GOOGL opened at $323.44 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The stock’s 50-day moving average is $265.17 and its two-hundred day moving average is $216.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.90 trillion, a PE ratio of 31.90, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.