Boltwood Capital Management Has $4.56 Million Position in Alphabet Inc. $GOOGL

Key Points

• Boltwood Capital Management increased its position in Alphabet Inc. by 5.0% in Q2, holding 25,856 shares worth $4.56 million, which accounts for approximately 1.3% of its investment portfolio.
• Alphabet's recent quarterly earnings showed earnings per share of $2.31, exceeding estimates, alongside a revenue of $96.43 billion, surpassing expectations of $93.60 billion.
• The company announced a quarterly dividend of $0.21 per share, payable on September 15th, with a dividend yield of 0.3% and a payout ratio of 8.95%.

Boltwood Capital Management increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,856 shares of the information services provider's stock after buying an additional 1,226 shares during the quarter. Alphabet accounts for approximately 1.3% of Boltwood Capital Management's investment portfolio, making the stock its 22nd largest position. Boltwood Capital Management's holdings in Alphabet were worth $4,557,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Enzi Wealth increased its stake in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC increased its stake in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC increased 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 valued at $1,086,000 after purchasing an additional 67 shares during the period. Rainey & Randall Wealth Advisors Inc. increased 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 valued at $496,000 after purchasing an additional 67 shares during the period. Finally, Florida Financial Advisors LLC increased its position in Alphabet by 0.4% during the 1st quarter. Florida Financial Advisors LLC now owns 16,311 shares of the information services provider's stock valued at $2,523,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $240.80 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $242.25. The business's fifty day moving average is $201.89 and its 200 day moving average is $177.58. 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 stock has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01.

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, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm'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 transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last 90 days. Insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOGL shares. Tigress Financial increased their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. Truist Financial reissued a "buy" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Bank of America increased their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Finally, Needham & Company LLC increased 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 analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

About Alphabet

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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