Elevatus Welath Management Has $1.78 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Elevatus Wealth Management reduced its stake in Alphabet Inc. by 84.2% in Q1, owning 11,417 shares worth approximately $1.78 million, now making up about 1.0% of its total holdings.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with an ex-dividend date of September 8, representing a 0.4% yield.
• In its latest earnings report, Alphabet exceeded expectations with a Q2 EPS of $2.31 and revenue of $96.43 billion, marking a 13.8% increase year-over-year.

Elevatus Welath Management lessened its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 84.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,417 shares of the information services provider's stock after selling 60,777 shares during the period. Alphabet makes up about 1.0% of Elevatus Welath Management's holdings, making the stock its 26th largest position. Elevatus Welath Management's holdings in Alphabet were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOG. Principia Wealth Advisory LLC raised its stake in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter valued at $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the first quarter valued at $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the first quarter valued at $32,000. Finally, Graybill Wealth Management LTD. bought a new stake in shares of Alphabet in the first quarter valued at $44,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 0.5%

GOOG opened at $204.91 on Friday. The stock has a market cap of $2.48 trillion, a PE ratio of 21.82, a PEG ratio of 1.35 and a beta of 1.02. 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 business has a 50 day moving average of $185.21 and a 200-day moving average of $174.87. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 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 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,819 shares of company stock worth $49,796,547. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Raymond James Financial reiterated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Oppenheimer reiterated an "outperform" rating and set a $235.00 price objective (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

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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