Brown Shipley& Co Ltd Has $8.20 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Brown Shipley & Co Ltd holds a stake of $8.20 million in Alphabet Inc., accounting for 4.5% of its investment portfolio, with a recent decrease of 4.1% in shares owned.
• Alphabet's stock recently opened at $250.43, with a twelve-month high of $256.00 and a market cap of $3.03 trillion.
• Following strong quarterly results, several analysts have raised their price targets for Alphabet, with Truist Financial setting a new target of $285.00 and multiple firms rating the stock as “Buy.”

Brown Shipley& Co Ltd decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,542 shares of the information services provider's stock after selling 1,977 shares during the period. Alphabet accounts for about 4.5% of Brown Shipley& Co Ltd's investment portfolio, making the stock its 7th largest holding. Brown Shipley& Co Ltd's holdings in Alphabet were worth $8,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. grew its holdings in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $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. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after buying an additional 84 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 2.1%

Alphabet stock opened at $250.43 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.03 trillion, a PE ratio of 26.67, a P/E/G ratio of 1.66 and a beta of 1.00. The firm's 50 day moving average price is $222.41 and its two-hundred day moving average price is $186.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the transaction, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GOOGL shares. Truist Financial increased their price objective on Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Needham & Company LLC lifted their price target on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Citizens Jmp upped their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Finally, Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the stock an "overweight" rating in a research note on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.76.

Alphabet 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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