Brasada Capital Management LP Sells 1,200 Shares of Alphabet Inc. $GOOG

Key Points

• Brasada Capital Management LP has reduced its stake in Alphabet Inc. by 14.0%, holding 7,401 shares worth approximately $1,085,000.
• Several institutional investors have shown increased interest in Alphabet, with Principia Wealth Advisory LLC boosting its holdings by 111.8% in the first quarter alone.
• Alphabet recently announced a quarterly dividend of $0.21 per share, scheduled to be paid on September 15th, reflecting a yield of 0.4%.

Brasada Capital Management LP reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,401 shares of the information services provider's stock after selling 1,200 shares during the period. Brasada Capital Management LP's holdings in Alphabet were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Nuveen LLC purchased a new stake in shares of Alphabet in the first quarter worth $2,622,943,000. GAMMA Investing LLC increased its stake in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Alphabet in the fourth quarter worth $786,942,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $47,225,230. Corporate insiders own 12.99% of the company's stock.

Alphabet Trading Down 0.7%

GOOG traded down $1.54 on Tuesday, reaching $211.99. 27,025,977 shares of the company traded hands, compared to its average volume of 23,670,729. Alphabet Inc. has a one year low of $142.66 and a one year high of $215.34. The firm has a fifty day simple moving average of $192.27 and a two-hundred day simple moving average of $175.60. The company has a market cap of $2.56 trillion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Oppenheimer reissued an "outperform" rating and issued a $235.00 price objective (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

About Alphabet

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.