Brown Miller Wealth Management LLC Has $4.60 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Brown Miller Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,510 shares of the information services provider’s stock after acquiring an additional 333 shares during the quarter. Alphabet comprises 2.0% of Brown Miller Wealth Management LLC’s holdings, making the stock its 6th largest holding. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $4,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. RWQ Financial Management Services Inc. raised its position in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management raised its position in Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the last quarter. Robbins Farley raised its position in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Alphabet in the 4th quarter valued at $787,000. Finally, Quantum Financial Advisors LLC raised its position in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.24 on Wednesday. The business’s 50-day moving average price is $173.38 and its two-hundred day moving average price is $154.80. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.05. The stock has a market cap of $2.29 trillion, a P/E ratio of 28.41, a PEG ratio of 1.37 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the firm posted $1.17 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,788 shares of company stock valued at $21,143,403. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, June 28th. Mizuho upped their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Oppenheimer upped their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Barclays upped their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

About Alphabet

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.