Alphabet Inc. $GOOGL Shares Acquired by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its holdings in Alphabet Inc. by 12.4% in Q1, owning a total of 73,460 shares worth approximately $11.36 million.
• Alphabet reported earnings of $2.31 per share for the last quarter, surpassing expectations, with revenue reaching $96.43 billion.
• The company has announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.4%, set to be paid on September 15th.

Belpointe Asset Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,460 shares of the information services provider's stock after acquiring an additional 8,103 shares during the quarter. Alphabet accounts for about 0.6% of Belpointe Asset Management LLC's investment portfolio, making the stock its 26th largest position. Belpointe Asset Management LLC's holdings in Alphabet were worth $11,360,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Nia Impact Advisors LLC grew its position in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth grew its position in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC grew its position in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the period. Aspire Capital Advisors LLC grew its position in Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. grew its position in Alphabet by 2.1% during the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOGL shares. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. DA Davidson raised their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Finally, Loop Capital reaffirmed a "hold" rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

Alphabet Price Performance

GOOGL traded up $1.20 during trading on Thursday, reaching $240.37. The company's stock had a trading volume of 30,544,923 shares, compared to its average volume of 35,138,924. 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 fifty day simple moving average of $200.66 and a two-hundred day simple moving average of $177.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The company has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.60, a PEG ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was 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. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 11.64% of the company's stock.

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.