Fulton Breakefield Broenniman LLC Sells 3,170 Shares of Alphabet Inc. $GOOGL

Fulton Breakefield Broenniman LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 262,525 shares of the information services provider’s stock after selling 3,170 shares during the period. Alphabet accounts for approximately 4.1% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 4th largest holding. Fulton Breakefield Broenniman LLC’s holdings in Alphabet were worth $63,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at $31,000. Corsicana & Co. purchased a new position in Alphabet during the 3rd quarter valued at about $54,000. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the period. Finally, S&T Bank PA lifted its position in shares of Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $315.15 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $3.80 trillion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07. The business’s fifty day moving average price is $301.53 and its 200 day moving average price is $243.51.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,829 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the transaction, the insider directly owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 192,687 shares of company stock worth $56,255,711 over the last three months. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. Truist Financial set a $350.00 price objective on shares of Alphabet and gave the company a “buy” rating in a report on Friday, December 5th. Wells Fargo & Company raised their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price objective on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. President Capital increased their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group boosted their target price on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $317.76.

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.