Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Brasada Capital Management LP

Brasada Capital Management LP lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 95,834 shares of the information services provider’s stock after selling 656 shares during the period. Alphabet makes up 3.1% of Brasada Capital Management LP’s holdings, making the stock its 5th biggest holding. Brasada Capital Management LP’s holdings in Alphabet were worth $17,762,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $30,000. Finally, Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,867 shares of company stock valued at $29,878,106. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Roth Mkm reissued a “buy” rating and issued a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a report on Wednesday, July 24th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, August 30th. Finally, Truist Financial reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Performance

NASDAQ GOOGL opened at $162.29 on Wednesday. The stock’s fifty day moving average is $163.80 and its two-hundred day moving average is $166.17. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for 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 previous year, the company posted $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.