Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Clearstead Trust LLC (2024)

Clearstead Trust LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,338 shares of the information services provider’s stock after buying an additional 8,832 shares during the quarter. Alphabet accounts for 2.0% of Clearstead Trust LLC’s holdings, making the stock its 8th largest holding. Clearstead Trust LLC’s holdings in Alphabet were worth $7,451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter valued at $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC raised its position in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares in the last quarter. Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC lifted its stake in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 251,829 shares of company stock worth $36,971,456 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. Barclays increased their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wolfe Research lifted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus boosted their price target on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Wedbush lifted their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Get Our Latest Report on Alphabet

Alphabet Trading Down 0.8 %

Shares of GOOGL opened at $168.65 on Monday. Alphabet Inc. has a twelve month low of $114.41 and a twelve month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.87, a PEG ratio of 1.29 and a beta of 1.02. The firm’s 50-day moving average is $153.32 and its two-hundred day moving average is $143.46.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the business posted $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

Alphabet Profile

(Free Report)

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.