Brown Wealth Management LLC Sells 2,537 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Brown Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 67.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,214 shares of the information services provider’s stock after selling 2,537 shares during the period. Brown Wealth Management LLC’s holdings in Alphabet were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Baird Financial Group Inc. lifted its position in Alphabet by 3.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,063,251 shares of the information services provider’s stock valued at $390,573,000 after purchasing an additional 78,307 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Alphabet by 23.3% in the fourth quarter. Bamco Inc. NY now owns 108,440 shares of the information services provider’s stock worth $20,528,000 after buying an additional 20,490 shares during the period. Baker Avenue Asset Management LP lifted its position in shares of Alphabet by 6.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 227,200 shares of the information services provider’s stock valued at $43,009,000 after buying an additional 14,102 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Alphabet during the 4th quarter valued at approximately $128,557,000. Finally, Banque de Luxembourg S.A. purchased a new stake in Alphabet in the 4th quarter worth approximately $18,853,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Wells Fargo & Company increased their price target on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Finally, Piper Sandler lifted their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have given a strong buy 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 $199.46.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,164 shares of company stock worth $25,357,390 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.7 %

GOOGL opened at $164.03 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50 day moving average price is $160.19 and its 200-day moving average price is $175.41. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.