Braun Stacey Associates Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,232 shares of the information services provider's stock after selling 3,288 shares during the period. Alphabet makes up about 2.1% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 6th biggest position. Braun Stacey Associates Inc.'s holdings in Alphabet were worth $51,067,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Burt Wealth Advisors increased its holdings in shares of Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after acquiring an additional 54 shares during the last quarter. Perritt Capital Management Inc grew its stake in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares during the last quarter. Nia Impact Advisors LLC grew its stake in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares during the last quarter. Hanlon Investment Management Inc. grew its stake in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after buying an additional 60 shares during the last quarter. Finally, Enzi Wealth grew its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on GOOGL shares. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. UBS Group set a $195.00 price target on Alphabet in a research note on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Finally, KeyCorp raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.61.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
Shares of GOOGL stock opened at $180.19 on Friday. The stock has a fifty day moving average price of $170.32 and a 200 day moving average price of $173.46. The stock has a market cap of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the firm posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's payout ratio is currently 9.36%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last three months. 11.64% of the stock is currently owned by insiders.
Alphabet Profile
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Free Report)
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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