Alphabet Inc. $GOOGL Stock: Brady Family Wealth LLC Reduces Holdings

Key Points

• Brady Family Wealth cut its Alphabet stake by 7.5% in the third quarter, selling 4,360 shares and retaining 53,747 shares worth about $18.5 million. Alphabet remained the fund’s third-largest holding, at roughly 5.5% of its portfolio.
• Alphabet reported quarterly EPS of $2.12, below analysts’ $3.02 estimate, while revenue of $127.58 billion also slightly missed expectations.
• Analysts’ consensus rating was Buy, with an average price target of $412.51. Alphabet also declared a quarterly dividend of $0.22 per share.

Brady Family Wealth LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,747 shares of the information services provider's stock after selling 4,360 shares during the quarter. Alphabet makes up about 5.5% of Brady Family Wealth LLC's portfolio, making the stock its 3rd largest position. Brady Family Wealth LLC's holdings in Alphabet were worth $18,493,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOGL. Titleist Asset Management LLC grew its stake in shares of Alphabet by 6.4% in the 3rd quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider's stock valued at $11,909,000 after buying an additional 2,096 shares during the period. Elefante Mark B raised its stake in Alphabet by 4.5% during the 2nd quarter. Elefante Mark B now owns 43,733 shares of the information services provider's stock worth $15,629,000 after buying an additional 1,897 shares during the period. Nwam LLC raised its stake in Alphabet by 19.6% during the 1st quarter. Nwam LLC now owns 49,128 shares of the information services provider's stock worth $14,127,000 after buying an additional 8,055 shares during the period. WCM Investment Management LLC boosted its holdings in Alphabet by 287.4% in the first quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider's stock worth $1,063,000 after acquiring an additional 2,883 shares in the last quarter. Finally, Spinnaker Investment Group LLC boosted its holdings in Alphabet by 51.4% in the second quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider's stock worth $1,701,000 after acquiring an additional 1,616 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.0%

NASDAQ:GOOGL opened at $295.77 on Friday. Alphabet Inc. has a 52 week low of $270.70 and a 52 week high of $408.61. The firm has a 50-day moving average price of $328.18 and a two-hundred day moving average price of $338.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. The firm has a market cap of $3.64 trillion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $3.02 by ($0.90). The business had revenue of $127.58 billion for the quarter, compared to analysts' expectations of $127.96 billion. Alphabet had a net margin of 50.03% and a return on equity of 43.33%. On average, equities analysts expect that Alphabet Inc. will post 19.81 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet's payout ratio is 4.59%.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. DA Davidson decreased their price objective on Alphabet from $350.00 to $300.00 and set a "neutral" rating for the company in a report on Thursday, October 29th. Phillip Securities raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 27th. Wells Fargo & Company decreased their price target on shares of Alphabet from $417.00 to $371.00 and set an "overweight" rating for the company in a research note on Friday, October 30th. Rosenblatt Securities decreased their price target on shares of Alphabet from $410.00 to $380.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Finally, Benchmark restated a "buy" rating on shares of Alphabet in a report on Thursday, October 1st. Five equities research analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Buy" and a consensus target price of $412.51.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 83 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director owned 19,076 shares in the company, valued at approximately $6,494,424.20. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 247 shares of company stock valued at $79,238. 11.61% of the stock is currently owned by insiders.

Key Alphabet News

These are some of the GOOGL news items that stood out recently:

• Positive Sentiment: Google made a faster, lower-cost Gemini model its everyday default and opened preorders for $395 Samsung-built AI glasses, scheduled to ship December 10. The product rollout highlights Alphabet’s effort to bring its AI services to more users and devices. Read More.
• Positive Sentiment: Nvidia CEO Jensen Huang’s abrupt departure could encourage cloud customers to diversify AI-chip suppliers. Alphabet’s TPUs may benefit from that shift; Google Cloud also uses AMD processors in TPU infrastructure. Read More.
• Neutral Sentiment: An investor commentary argues that Alphabet’s substantial cash generation and business strengths provide reasons not to overreact to AI-related capital spending, though the returns on that spending remain a key issue for investors. Read More.

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google's products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.

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