Alphabet Inc. $GOOGL Stake Trimmed by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,520 shares of the information services provider’s stock after selling 101 shares during the quarter. Alphabet makes up about 1.8% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 7th biggest position. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $5,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN increased its stake in Alphabet by 8.6% in the second quarter. OLD National Bancorp IN now owns 470,764 shares of the information services provider’s stock worth $82,963,000 after purchasing an additional 37,174 shares during the period. Olistico Wealth LLC increased its stake in Alphabet by 5.7% in the second quarter. Olistico Wealth LLC now owns 11,325 shares of the information services provider’s stock worth $1,996,000 after purchasing an additional 615 shares during the period. Sutton Place Investors LLC increased its stake in Alphabet by 19.3% in the 2nd quarter. Sutton Place Investors LLC now owns 5,247 shares of the information services provider’s stock worth $925,000 after buying an additional 847 shares during the period. Wealthcare Capital Partners LLC purchased a new position in Alphabet in the 2nd quarter worth about $238,000. Finally, Wealthcare Advisory Partners LLC increased its stake in Alphabet by 7.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 61,121 shares of the information services provider’s stock worth $10,771,000 after buying an additional 4,246 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOGL shares. Truist Financial raised their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. JMP Securities raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a research report on Friday, September 19th. Royal Bank Of Canada raised their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Needham & Company LLC raised their price objective on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Wedbush raised their price target on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.40.

Alphabet Stock Up 3.2%

Shares of Alphabet stock opened at $244.15 on Tuesday. The firm’s 50 day moving average price is $227.30 and its 200-day moving average price is $189.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a market cap of $2.95 trillion, a P/E ratio of 26.00, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,338 shares of company stock valued at $59,062,683. Insiders own 11.55% of the company’s stock.

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.