Brighton Jones LLC Purchases 9,734 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Brighton Jones LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 109,962 shares of the information services provider’s stock after buying an additional 9,734 shares during the quarter. Alphabet comprises about 0.6% of Brighton Jones LLC’s portfolio, making the stock its 26th largest holding. Brighton Jones LLC’s holdings in Alphabet were worth $15,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC increased its position in Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $634,465,000. Ontario Teachers Pension Plan Board bought a new position in Alphabet in the 3rd quarter valued at approximately $601,545,000. Finally, Lone Pine Capital LLC acquired a new stake in Alphabet in the third quarter valued at approximately $407,367,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock worth $37,091,240 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL opened at $169.38 on Thursday. The stock has a market cap of $2.09 trillion, a P/E ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02. The business’s fifty day moving average is $151.40 and its 200 day moving average is $142.83. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $107.19 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the firm posted $1.17 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOGL shares. BMO Capital Markets increased their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Susquehanna lifted their price target on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Roth Mkm upped their price objective on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Raymond James lifted their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.60.

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.