Alphabet Inc. $GOOGL Stake Lifted by Brown Lisle Cummings Inc.

Key Points

• Brown Lisle Cummings Inc. increased its stake in Alphabet Inc. by 2.7% during Q2, holding a total of 52,406 shares valued at approximately $9.24 million.
• Alphabet reported $2.31 earnings per share for the last quarter, exceeding expectations, and had a revenue of $96.43 billion versus an anticipated $93.60 billion.
• The company announced a quarterly dividend of $0.21 per share, reflecting a 0.3% yield and a dividend payout ratio of 8.95%.

Brown Lisle Cummings Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,406 shares of the information services provider's stock after acquiring an additional 1,400 shares during the quarter. Alphabet makes up 2.5% of Brown Lisle Cummings Inc.'s holdings, making the stock its 6th biggest position. Brown Lisle Cummings Inc.'s holdings in Alphabet were worth $9,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Nuveen LLC purchased a new position in Alphabet in the first quarter valued at about $4,317,606,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after buying an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Finally, Amundi lifted its stake in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after buying an additional 3,537,173 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $244.90 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.96 trillion, a PE ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. The company's 50 day simple moving average is $219.14 and its two-hundred day simple moving average is $184.66.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Loop Capital restated a "hold" rating and set a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research note on Monday. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $237.10.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,285 shares of company stock worth $50,994,787. Corporate insiders own 11.64% of the company's stock.

Alphabet 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.

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