Alphabet Inc. $GOOG is Brown Shipley& Co Ltd's 3rd Largest Position

Key Points

• Brown Shipley & Co Ltd reduced its holdings in Alphabet Inc. by 9.6% in Q2, making it the firm's 3rd largest position with shares valued at approximately $13.68 million.
• Insider John Kent Walker sold 17,816 shares at an average price of $247.42, reflecting a 29.30% decrease in his ownership.
• Alphabet's quarterly revenue was up 13.8% year-over-year, beating expectations with earnings of $2.31 per share against a consensus estimate of $2.12.

Brown Shipley& Co Ltd decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,120 shares of the information services provider's stock after selling 8,199 shares during the quarter. Alphabet comprises about 7.5% of Brown Shipley& Co Ltd's portfolio, making the stock its 3rd biggest holding. Brown Shipley& Co Ltd's holdings in Alphabet were worth $13,680,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter worth $26,000. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter worth $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter worth $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.33.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This represents a 29.30% 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, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.4%

Shares of GOOG opened at $246.43 on Friday. The stock has a market capitalization of $2.98 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company's 50-day simple moving average is $220.84 and its 200-day simple moving average is $186.43.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.