BigSur Wealth Management LLC Has $5.73 Million Stake in Alphabet Inc. $GOOGL

Key Points

• BigSur Wealth Management LLC reduced its stake in Alphabet Inc. by 7.9% in Q2, owning approximately $5.73 million worth of shares, which represents about 1.4% of its investment portfolio.
• Alphabet's recent quarterly earnings showed an EPS of $2.31, surpassing estimates, with revenue of $96.43 billion compared to an expected $93.60 billion.
• Several analysts have raised their price targets for Alphabet, with JMP Securities now setting the target at $290.00, reflecting strong positive sentiment around the stock.

BigSur Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,536 shares of the information services provider's stock after selling 2,790 shares during the quarter. Alphabet makes up about 1.4% of BigSur Wealth Management LLC's investment portfolio, making the stock its 14th biggest holding. BigSur Wealth Management LLC's holdings in Alphabet were worth $5,734,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG raised its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.3%

GOOGL stock opened at $246.54 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company's 50-day simple moving average is $215.93 and its 200 day simple moving average is $183.28. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a market capitalization of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid 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 is 8.95%.

Insider Buying and Selling at Alphabet

In related 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 transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $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 available through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 257,866 shares of company stock valued at $52,363,610. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JMP Securities upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research report on Friday, September 19th. Truist Financial upped their price objective on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Piper Sandler upped their price objective on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. KeyCorp upped their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Canaccord Genuity Group upped their price objective on shares of Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $233.44.

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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