Brown Shipley& Co Ltd Sells 4,406 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Brown Shipley& Co Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 56,746 shares of the information services provider’s stock after selling 4,406 shares during the quarter. Alphabet comprises approximately 4.7% of Brown Shipley& Co Ltd’s portfolio, making the stock its 6th largest holding. Brown Shipley& Co Ltd’s holdings in Alphabet were worth $10,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. Finally, BMO Capital Markets dropped their price objective on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Price Performance

NASDAQ:GOOGL opened at $162.08 on Friday. The firm has a market cap of $2.00 trillion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50-day moving average price is $161.62 and its two-hundred day moving average price is $167.57. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the company earned $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Alphabet Company Profile

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.