Alphabet Inc. $GOOG Shares Acquired by BigSur Wealth Management LLC

Key Points

• BigSur Wealth Management LLC increased its holdings in Alphabet Inc. by 3.4%, owning 31,680 shares valued at approximately $5.62 million, making it the firm's 16th largest holding.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, surpassing analysts' expectations, with revenue reaching $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21 per share, yielding 0.3%, following a payout ratio of 8.95% and an annualized dividend of $0.84.

BigSur Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 31,680 shares of the information services provider's stock after purchasing an additional 1,050 shares during the quarter. Alphabet comprises approximately 1.4% of BigSur Wealth Management LLC's holdings, making the stock its 16th largest holding. BigSur Wealth Management LLC's holdings in Alphabet were worth $5,620,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

GOOG opened at $247.18 on Friday. The company has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a PEG ratio of 1.66 and a beta of 1.01. The company has a 50-day moving average of $216.61 and a 200-day moving average of $184.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 in the last quarter. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOG. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Oppenheimer restated an "outperform" rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $230.35.

Alphabet 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.

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