Alphabet Inc. (NASDAQ:GOOGL) is Clearstead Trust LLC's 10th Largest Position

Key Points

• Clearstead Trust LLC reduced its holdings in Alphabet Inc. by 2.6%, now owning 57,962 shares which account for about 2.0% of its investment portfolio, making it the firm's 10th largest position worth approximately $8.96 million.
• Alphabet recently declared a quarterly dividend of $0.21, set to be paid on September 15th, representing an annualized dividend yield of 0.4%.
• In its latest earnings report, Alphabet surpassed analysts' expectations with a reported earnings per share of $2.31, compared to a consensus estimate of $2.15, along with a significant revenue of $96.43 billion for the quarter.

Clearstead Trust LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,962 shares of the information services provider's stock after selling 1,575 shares during the period. Alphabet accounts for about 2.0% of Clearstead Trust LLC's investment portfolio, making the stock its 10th largest holding. Clearstead Trust LLC's holdings in Alphabet were worth $8,963,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter worth about $28,000. Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter worth about $39,000. Finally, Elite Financial Inc. purchased a new position in Alphabet in the first quarter worth about $42,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 2.5%

Shares of GOOGL opened at $201.42 on Monday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market cap of $2.44 trillion, a P/E ratio of 21.45, a P/E/G ratio of 1.36 and a beta of 1.01. 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 company's fifty day simple moving average is $180.89 and its 200-day simple moving average is $172.80.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Loop Capital reaffirmed a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Bank of America boosted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Guggenheim boosted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated 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 owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock worth $49,474,273. Insiders own 11.55% 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.

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