Alphabet Inc. $GOOG Shares Purchased by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its stake in Alphabet Inc. by 2.9% during the 2nd quarter, bringing its total holdings to 47,962 shares valued at approximately $8.5 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet on July 16th for nearly $6 million, reducing his ownership by 1.27% to about 2.5 million shares.
• Alphabet recently reported a quarterly earnings per share of $2.31, surpassing analysts' expectations, and has declared a dividend of $0.21 per share, translating to an annual yield of 0.3%.

Belpointe Asset Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,962 shares of the information services provider's stock after purchasing an additional 1,335 shares during the period. Belpointe Asset Management LLC's holdings in Alphabet were worth $8,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. RDA Financial Network increased its holdings in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock worth $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Oldfather Financial Services LLC purchased a new stake in Alphabet in the 2nd quarter worth $213,000. Truist Financial Corp increased its holdings in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock worth $643,381,000 after acquiring an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC increased its holdings in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock worth $38,031,000 after acquiring an additional 115,003 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.7%

Shares of GOOG stock opened at $245.46 on Thursday. The company's 50-day moving average price is $225.03 and its 200-day moving average price is $188.71. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

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

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOG shares. UBS Group boosted their price target on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a report on Tuesday. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Mizuho raised shares of Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Wednesday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $237.68.

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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