Brown Miller Wealth Management LLC Buys 174 Shares of Alphabet Inc. $GOOG

Brown Miller Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,924 shares of the information services provider’s stock after buying an additional 174 shares during the period. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ACT Advisors LLC. boosted its holdings in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management raised its position in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates raised its position in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its position in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after purchasing an additional 57 shares during the period. Finally, Brueske Advisory Services LLC raised its position in shares of Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock worth $389,000 after purchasing an additional 58 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.7%

NASDAQ:GOOG opened at $247.13 on Wednesday. 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 company has a market cap of $2.99 trillion, a PE ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The stock has a 50-day simple moving average of $224.07 and a 200 day simple moving average of $188.32.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOG. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Mizuho raised Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.33.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.