Brio Consultants LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Brio Consultants LLC reduced its stake in Alphabet Inc. by 36.2% during the first quarter, now holding 5,360 shares worth approximately $829,000 following the sale of 3,038 shares.
• Alphabet announced a quarterly dividend of $0.21 per share, with an ex-dividend date of September 8th, representing an annualized yield of 0.4%.
• In latest earnings, Alphabet reported $2.31 earnings per share, exceeding analysts' expectations, with revenue of $96.43 billion for the quarter.

Brio Consultants LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,360 shares of the information services provider's stock after selling 3,038 shares during the period. Brio Consultants LLC's holdings in Alphabet were worth $829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Mystic Asset Management Inc. boosted its holdings in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the period. Finally, Optivise Advisory Services LLC raised its stake in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $0.43 during trading hours on Thursday, hitting $196.52. 26,014,319 shares of the company's stock traded hands, compared to its average volume of 36,916,484. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. 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 company has a fifty day simple moving average of $179.76 and a 200-day simple moving average of $173.12. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Needham & Company LLC raised their target price 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. KeyCorp lifted their price objective on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim upped their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is owned by insiders.

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.