Brown Wealth Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 67.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,214 shares of the information services provider's stock after selling 2,537 shares during the quarter. Brown Wealth Management LLC's holdings in Alphabet were worth $230,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Modus Advisors LLC acquired a new stake in Alphabet in the fourth quarter worth $77,000. CWA Asset Management Group LLC grew its stake in shares of Alphabet by 4.6% in the 4th quarter. CWA Asset Management Group LLC now owns 100,467 shares of the information services provider's stock valued at $19,018,000 after buying an additional 4,377 shares during the period. Finally, Boltwood Capital Management increased its holdings in shares of Alphabet by 3.9% during the fourth quarter. Boltwood Capital Management now owns 23,593 shares of the information services provider's stock valued at $4,466,000 after acquiring an additional 886 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of several recent research reports. Bank of America boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Truist Financial lowered their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Piper Sandler upped their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Susquehanna dropped their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Finally, DA Davidson reduced their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.46.
Read Our Latest Stock Report on GOOGL
Insider Activity
In other Alphabet news, insider John Kent Walker sold 17,690 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares of the company's stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,164 shares of company stock worth $25,357,390. Insiders own 11.55% of the company's stock.
Alphabet Stock Performance
Alphabet stock opened at $164.03 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.99 trillion, a P/E ratio of 20.38, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a 50-day moving average of $160.19 and a 200-day moving average of $175.41. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Alphabet Profile
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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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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