Alphabet Inc. $GOOG Shares Sold by Brown Shipley& Co Ltd

Key Points

• Brown Shipley & Co Ltd reduced its investment in Alphabet Inc. by selling 3,201 shares, resulting in a total of 85,319 shares, which makes up 7.5% of their portfolio.
• Alphabet's latest quarterly earnings showed $2.31 EPS, exceeding estimates, with revenue reported at $96.43 billion, reflecting a year-over-year increase of 13.8%.
• Insider transactions included significant sales by executives, with one insider selling 23,820 shares for approximately $4.64 million, indicating increased activity among company leadership.

Brown Shipley& Co Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,319 shares of the information services provider's stock after selling 3,201 shares during the quarter. Alphabet comprises approximately 7.5% of Brown Shipley& Co Ltd's investment portfolio, making the stock its 3rd biggest holding. Brown Shipley& Co Ltd's holdings in Alphabet were worth $13,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Nuveen LLC purchased a new position in Alphabet in the first quarter worth $2,622,943,000. GAMMA Investing LLC grew its holdings in 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 during the last quarter. Vanguard Group Inc. grew its holdings in 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 during the last quarter. JPMorgan Chase & Co. grew its holdings in 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 during the last quarter. Finally, Northern Trust Corp grew its holdings in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOG. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Cowen reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer reissued an "outperform" rating and set a $235.00 price objective (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,719 shares of company stock valued at $47,223,172. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG traded up $6.10 on Friday, reaching $206.72. 25,689,130 shares of the company's stock traded hands, compared to its average volume of 20,142,382. The firm has a market cap of $2.50 trillion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.39 and a beta of 1.02. The stock has a 50 day moving average price of $187.71 and a 200-day moving average price of $174.73. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $209.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its 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 $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given 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 payout ratio is currently 8.95%.

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.