Fulton Breakefield Broenniman LLC Cuts Stake in Alphabet Inc. $GOOGL

Fulton Breakefield Broenniman LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265,695 shares of the information services provider’s stock after selling 1,249 shares during the period. Alphabet accounts for 3.2% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 6th biggest position. Fulton Breakefield Broenniman LLC’s holdings in Alphabet were worth $46,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GOOGL. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Alphabet by 10.5% during the first quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after purchasing an additional 9,900 shares during the last quarter. Wells Trecaso Financial Group LLC raised its holdings in shares of Alphabet by 0.9% during the first quarter. Wells Trecaso Financial Group LLC now owns 71,147 shares of the information services provider’s stock valued at $11,002,000 after purchasing an additional 605 shares during the last quarter. Finally, Hoge Financial Services LLC raised its holdings in shares of Alphabet by 11.6% during the first quarter. Hoge Financial Services LLC now owns 2,343 shares of the information services provider’s stock valued at $362,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. HSBC assumed coverage on shares of Alphabet in a research report on Tuesday, October 7th. They set a “buy” rating and a $285.00 target price for the company. Rosenblatt Securities upped their target price on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company set a $236.00 price target on shares of Alphabet and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, KeyCorp raised their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.24.

Alphabet Stock Up 0.7%

GOOGL stock opened at $253.30 on Friday. 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 $256.96. The firm has a 50 day moving average of $231.55 and a 200 day moving average of $191.85. The stock has a market capitalization of $3.06 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.