Alphabet Inc. $GOOG Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 47,962 shares of the information services provider’s stock after buying an additional 1,335 shares during the period. Belpointe Asset Management LLC’s holdings in Alphabet were worth $8,508,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. MAS Advisors LLC acquired a new stake in shares of Alphabet during the second quarter worth about $216,000. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Alphabet by 14.6% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,202 shares of the information services provider’s stock worth $391,000 after purchasing an additional 280 shares in the last quarter. Confluence Wealth Services Inc. increased its stake in shares of Alphabet by 0.9% during the second quarter. Confluence Wealth Services Inc. now owns 30,820 shares of the information services provider’s stock worth $5,467,000 after buying an additional 260 shares during the period. Duncan Williams Asset Management LLC raised its holdings in Alphabet by 73.2% in the second quarter. Duncan Williams Asset Management LLC now owns 12,660 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 5,349 shares in the last quarter. Finally, Appleton Partners Inc. MA raised its holdings in Alphabet by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 154,711 shares of the information services provider’s stock valued at $27,444,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $245.46 on Thursday. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. 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 firm’s 50 day moving average is $225.03 and its two-hundred day moving average is $188.71.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.68.

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.