Brighton Jones LLC Buys 3,664 Shares of Alphabet Inc. $GOOGL

Brighton Jones LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,949 shares of the information services provider’s stock after acquiring an additional 3,664 shares during the quarter. Alphabet accounts for about 0.7% of Brighton Jones LLC’s investment portfolio, making the stock its 25th largest holding. Brighton Jones LLC’s holdings in Alphabet were worth $28,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GOOGL. Foster Group Inc. raised its position in Alphabet by 1.8% during the 3rd quarter. Foster Group Inc. now owns 26,501 shares of the information services provider’s stock valued at $6,442,000 after purchasing an additional 464 shares during the last quarter. DLK Investment Management LLC increased its stake in shares of Alphabet by 30.1% during the third quarter. DLK Investment Management LLC now owns 4,270 shares of the information services provider’s stock valued at $1,038,000 after buying an additional 988 shares during the period. Accelerate Investment Advisors LLC raised its holdings in shares of Alphabet by 12.3% during the third quarter. Accelerate Investment Advisors LLC now owns 3,766 shares of the information services provider’s stock valued at $915,000 after acquiring an additional 411 shares in the last quarter. Capital Insight Partners LLC raised its holdings in shares of Alphabet by 2.8% during the third quarter. Capital Insight Partners LLC now owns 45,043 shares of the information services provider’s stock valued at $10,950,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Thomas Story & Son LLC lifted its stake in Alphabet by 1.3% in the third quarter. Thomas Story & Son LLC now owns 41,197 shares of the information services provider’s stock worth $10,015,000 after acquiring an additional 510 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total transaction of $867,569.40. Following the sale, the chief accounting officer directly owned 8,962 shares in the company, valued at approximately $2,798,832.60. This trade represents a 23.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, December 15th. The stock was sold at an average price of $308.19, for a total value of $184,914.00. Following the completion of the sale, the director directly owned 3,916 shares of the company’s stock, valued at approximately $1,206,872.04. The trade was a 13.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 226,128 shares of company stock worth $63,183,331. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.2%

Alphabet stock opened at $313.51 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. The business’s fifty day simple moving average is $295.59 and its two-hundred day simple moving average is $238.75. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOGL shares. BNP Paribas Exane began coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective for the company. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Moffett Nathanson lifted their price objective on Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. BMO Capital Markets increased their target price on Alphabet from $340.00 to $343.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Finally, Citic Securities raised their target price on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.90.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.