Brown Miller Wealth Management LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Brown Miller Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 88.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,750 shares of the information services provider's stock after buying an additional 2,696 shares during the quarter. Brown Miller Wealth Management LLC's holdings in Alphabet were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. LSV Asset Management purchased a new position in shares of Alphabet in the fourth quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter valued at $43,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 0.4%

GOOG stock traded down $0.71 during mid-day trading on Tuesday, hitting $177.23. 17,459,815 shares of the company were exchanged, compared to its average volume of 20,511,727. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market capitalization of $2.15 trillion, a P/E ratio of 19.76, a PEG ratio of 1.26 and a beta of 1.01. The business has a fifty day simple moving average of $165.19 and a 200-day simple moving average of $176.43. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.88.

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.