Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 216,896 shares of the information services provider’s stock after purchasing an additional 4,165 shares during the quarter. Alphabet comprises 2.2% of Bryn Mawr Capital Management LLC’s holdings, making the stock its 7th biggest position. Bryn Mawr Capital Management LLC’s holdings in Alphabet were worth $39,507,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOGL. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth approximately $15,441,917,000. Capital Research Global Investors grew its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares in the last quarter. Finally, PineStone Asset Management Inc. grew its holdings in shares of Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Piper Sandler dropped their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research note on Tuesday, August 6th. Loop Capital restated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Price Performance

GOOGL opened at $148.66 on Wednesday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $169.44 and a 200-day moving average price of $164.52. The stock has a market capitalization of $1.83 trillion, a P/E ratio of 22.80, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company posted $1.44 EPS. Equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,367 shares of company stock worth $30,016,931. Company insiders own 11.55% of the company’s stock.

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.