Brasada Capital Management LP Sells 5,013 Shares of Alphabet Inc. $GOOGL

Key Points

• Brasada Capital Management LP has reduced its stake in Alphabet Inc. by 5.4%, selling 5,013 shares and retaining 87,553 shares, making Alphabet the 8th largest holding in their portfolio.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with a yield of 0.4%, to be paid on September 15th.
• The company reported earnings of $2.31 per share for the most recent quarter, exceeding analysts' expectations, with revenue hitting $96.43 billion.

Brasada Capital Management LP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,553 shares of the information services provider's stock after selling 5,013 shares during the quarter. Alphabet accounts for 2.4% of Brasada Capital Management LP's investment portfolio, making the stock its 8th biggest holding. Brasada Capital Management LP's holdings in Alphabet were worth $12,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.6%

GOOGL stock opened at $212.91 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65. The company has a 50-day moving average of $190.44 and a two-hundred day moving average of $174.05. The stock has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.43 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. 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 analysts' expectations of $93.60 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $47,225,230 over the last three months. 11.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 24th. DA Davidson boosted their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Barclays increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, JMP Securities increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.53.

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.

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