Fountainhead AM LLC Increases Stake in Alphabet Inc. $GOOGL

Fountainhead AM LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,655 shares of the information services provider’s stock after acquiring an additional 2,589 shares during the quarter. Fountainhead AM LLC’s holdings in Alphabet were worth $2,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% in 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 buying an additional 4,473,901 shares during the period. Invesco Ltd. lifted its stake in shares of Alphabet by 1.4% during the 1st 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 during the last quarter. Deutsche Bank AG boosted its holdings in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research note on Thursday. New Street Research upped their price target on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Morgan Stanley raised their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and set a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a report on Monday, October 27th. Finally, Wedbush restated an “outperform” rating and issued a $320.00 target price (up from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 3.5%

NASDAQ GOOGL opened at $299.66 on Friday. 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 has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company’s 50-day simple moving average is $262.39 and its two-hundred day simple moving average is $213.40. Alphabet Inc. has a one year low of $140.53 and a one year high of $306.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.