Alphabet Inc. (NASDAQ:GOOGL) Stake Reduced by Belpointe Asset Management LLC

Posted by Defense World Staff on May 15th, 2023

Belpointe Asset Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 113,611 shares of the information services provider’s stock after selling 20,322 shares during the quarter. Alphabet accounts for approximately 0.6% of Belpointe Asset Management LLC’s holdings, making the stock its 23rd largest position. Belpointe Asset Management LLC’s holdings in Alphabet were worth $10,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vancity Investment Management Ltd boosted its stake in Alphabet by 155.5% during the fourth quarter. Vancity Investment Management Ltd now owns 37,812 shares of the information services provider’s stock valued at $3,336,000 after buying an additional 23,012 shares in the last quarter. Diamant Asset Management Inc. boosted its stake in Alphabet by 2.5% during the fourth quarter. Diamant Asset Management Inc. now owns 40,957 shares of the information services provider’s stock valued at $3,614,000 after buying an additional 1,000 shares in the last quarter. Capital Analysts LLC boosted its stake in Alphabet by 174.0% during the fourth quarter. Capital Analysts LLC now owns 30,438 shares of the information services provider’s stock valued at $2,686,000 after buying an additional 19,328 shares in the last quarter. Arcadia Investment Management Corp MI boosted its stake in Alphabet by 2.5% during the fourth quarter. Arcadia Investment Management Corp MI now owns 94,223 shares of the information services provider’s stock valued at $8,313,000 after buying an additional 2,335 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT bought a new position in Alphabet during the fourth quarter valued at about $591,000. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Up 0.8 %

NASDAQ GOOGL opened at $117.51 on Monday. The business has a fifty day moving average price of $103.71 and a two-hundred day moving average price of $97.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.43. The stock has a market capitalization of $1.49 trillion, a PE ratio of 26.17, a PEG ratio of 1.35 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the prior year, the company earned $1.23 EPS. Equities analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays raised their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Roth Mkm raised their target price on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Raymond James upped their target price on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Piper Sandler upped their target price on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Finally, Evercore ISI upped their target price on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $130.06.

Insider Activity

In related news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $14.03, for a total value of $1,226,179.91. Following the sale, the insider now owns 11,012,841 shares of the company’s stock, valued at $154,510,159.23. The disclosure for this sale can be found here. In the last ninety days, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 326,208 shares worth $16,803,119. 11.44% of the stock is owned by corporate insiders.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.