Alphabet Inc. $GOOGL Shares Sold by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors LLC reduced its stake in Alphabet Inc. by 1.1% in Q2, now holding 235,680 shares worth approximately $41.53 million, making it their 7th largest investment.
• Alphabet recently reported earnings of $2.31 per share for the last quarter, outperforming estimates, with revenues reaching $96.43 billion compared to expectations of $93.60 billion.
• The company announced a quarterly dividend of $0.21 per share, which translates to an annualized yield of 0.3% and reflects a dividend payout ratio of 8.95%.

Beaumont Financial Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,680 shares of the information services provider's stock after selling 2,566 shares during the quarter. Alphabet accounts for 3.0% of Beaumont Financial Advisors LLC's holdings, making the stock its 7th biggest holding. Beaumont Financial Advisors LLC's holdings in Alphabet were worth $41,534,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOGL. Strategic Investment Solutions Inc. IL grew its stake in shares of Alphabet by 13.9% in the second quarter. Strategic Investment Solutions Inc. IL now owns 1,970 shares of the information services provider's stock valued at $347,000 after acquiring an additional 241 shares in the last quarter. Five Oceans Advisors boosted its holdings in Alphabet by 1.9% in the 2nd quarter. Five Oceans Advisors now owns 10,584 shares of the information services provider's stock valued at $1,865,000 after purchasing an additional 199 shares during the period. EdgeRock Capital LLC grew its position in shares of Alphabet by 35.0% during the 2nd quarter. EdgeRock Capital LLC now owns 10,780 shares of the information services provider's stock worth $1,902,000 after purchasing an additional 2,797 shares in the last quarter. Randolph Co Inc raised its position in shares of Alphabet by 466.6% in the second quarter. Randolph Co Inc now owns 162,610 shares of the information services provider's stock valued at $28,657,000 after buying an additional 133,911 shares in the last quarter. Finally, Blue Oak Capital LLC raised its position in shares of Alphabet by 5.4% in the second quarter. Blue Oak Capital LLC now owns 1,971 shares of the information services provider's stock valued at $347,000 after buying an additional 101 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL stock opened at $243.10 on Wednesday. The company has a market capitalization of $2.94 trillion, a P/E ratio of 25.89, a PEG ratio of 1.65 and a beta of 1.01. The company has a fifty day moving average price of $218.05 and a 200-day moving average price of $184.24. 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 52-week low of $140.53 and a 52-week high of $256.00.

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

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction 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 sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction 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 sale, the director owned 243,400 shares of the company's stock, valued at approximately $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 sold 225,469 shares of company stock valued at $46,586,752 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Rosenblatt Securities raised their price target on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada upped their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Needham & Company LLC boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $235.63.

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.

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