Clearstead Trust LLC Acquires 641 Shares of Alphabet Inc. (NASDAQ:GOOG)

Clearstead Trust LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,295 shares of the information services provider’s stock after acquiring an additional 641 shares during the period. Alphabet accounts for approximately 0.8% of Clearstead Trust LLC’s holdings, making the stock its 26th biggest holding. Clearstead Trust LLC’s holdings in Alphabet were worth $3,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the second quarter valued at $37,000. Richardson Financial Services Inc. bought a new position in Alphabet during the 4th quarter valued at about $34,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet in the 2nd quarter worth about $44,000. Hoese & Co LLP lifted its stake in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of Alphabet stock opened at $160.28 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $1.98 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.13 and a beta of 1.04. The firm’s 50-day moving average is $167.82 and its two-hundred day moving average is $166.64. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $1.44 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GOOG shares. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $34,341,581 in the last three months. 12.99% of the stock is owned by insiders.

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.