Brown Shipley& Co Ltd Sells 6,015 Shares of Alphabet Inc. (NASDAQ:GOOG)

Brown Shipley& Co Ltd decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,982 shares of the information services provider’s stock after selling 6,015 shares during the quarter. Alphabet comprises about 7.8% of Brown Shipley& Co Ltd’s portfolio, making the stock its 3rd biggest holding. Brown Shipley& Co Ltd’s holdings in Alphabet were worth $15,713,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. M&G PLC purchased a new position in shares of Alphabet during the 3rd quarter worth $2,240,000. Colonial River Wealth Management LLC raised its stake in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the period. Metis Global Partners LLC boosted its holdings in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after buying an additional 5,892 shares during the period. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GOOG. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,673,866 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG stock opened at $170.82 on Thursday. The business’s 50-day moving average is $169.71 and its two-hundred day moving average is $171.85. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet Company 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.