Morton Brown Family Wealth LLC Has $90,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Morton Brown Family Wealth LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 53.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 583 shares of the information services provider’s stock after acquiring an additional 202 shares during the period. Morton Brown Family Wealth LLC’s holdings in Alphabet were worth $90,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the fourth quarter worth $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet during the first quarter worth $49,000. Navigoe LLC bought a new position in shares of Alphabet during the fourth quarter worth $51,000. Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter worth $53,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Alphabet during the fourth quarter worth $57,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

GOOGL stock opened at $179.08 on Monday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The business’s 50 day moving average price is $168.70 and its two-hundred day moving average price is $173.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the sale, the chief executive officer directly owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOGL shares. Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Roth Mkm reissued a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Mizuho cut their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.95.

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.