Clearstead Trust LLC Buys 1,581 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Clearstead Trust LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,858 shares of the information services provider’s stock after buying an additional 1,581 shares during the period. Alphabet makes up about 2.3% of Clearstead Trust LLC’s holdings, making the stock its 9th biggest position. Clearstead Trust LLC’s holdings in Alphabet were worth $9,446,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Nebula Research & Development LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $787,000. New Hampshire Trust grew its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new position in Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares during the period. Finally, American International Group Inc. raised its holdings in Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock worth $272,655,000 after purchasing an additional 200,891 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,725 shares of company stock valued at $31,933,031. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research note on Monday. Argus increased their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Jefferies Financial Group boosted their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Finally, Truist Financial reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $165.85 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a 50-day simple moving average of $162.52 and a 200-day simple moving average of $166.84. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm earned $1.44 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is 12.27%.

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.