Bray Capital Advisors Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bray Capital Advisors boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,894.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,420 shares of the information services provider’s stock after purchasing an additional 77,337 shares during the quarter. Alphabet comprises 2.4% of Bray Capital Advisors’ portfolio, making the stock its 7th biggest holding. Bray Capital Advisors’ holdings in Alphabet were worth $7,788,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC increased its position in shares of Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the period. Laurel Wealth Planning LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Coston McIsaac & Partners lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet in the 2nd quarter worth $33,000. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at $1,008,412. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $96.11 on Thursday. The company has a market capitalization of $1.23 trillion, a P/E ratio of 21.12, a P/E/G ratio of 1.25 and a beta of 1.09. The business’s 50 day moving average is $94.51 and its two-hundred day moving average is $96.29. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the company posted $1.53 EPS. Analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Loop Capital upped their price objective on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Evercore ISI decreased their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Credit Suisse Group decreased their price objective on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, Truist Financial decreased their price objective on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.