Brandywine Oak Private Wealth LLC Reduces Position in Alphabet Inc. $GOOG

Brandywine Oak Private Wealth LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,958 shares of the information services provider’s stock after selling 1,756 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Alphabet were worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $26,000. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock valued at $59,062,683 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 3.0%

Shares of GOOG opened at $244.64 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a market cap of $2.96 trillion, a P/E ratio of 26.05, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $227.94 and its 200-day simple moving average is $190.61.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for 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 revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid 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 (DPR) is currently 8.95%.

Alphabet Company 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.