Brown Wealth Management LLC Buys New Position in Alphabet Inc. $GOOG

Brown Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,264 shares of the information services provider’s stock, valued at approximately $1,282,000.

Other large investors also recently modified their holdings of the company. Tradewinds LLC. increased its holdings in Alphabet by 2,134.8% in the third quarter. Tradewinds LLC. now owns 45,098 shares of the information services provider’s stock valued at $10,984,000 after purchasing an additional 43,080 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in shares of Alphabet by 31.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 354,529 shares of the information services provider’s stock worth $86,345,000 after buying an additional 84,553 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares during the last quarter. CWA Asset Management Group LLC increased its stake in shares of Alphabet by 2.2% in the 3rd quarter. CWA Asset Management Group LLC now owns 157,143 shares of the information services provider’s stock valued at $38,272,000 after acquiring an additional 3,444 shares during the last quarter. Finally, American National Bank of Texas acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $900,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. HSBC restated a “buy” rating and set a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a research note on Thursday. Piper Sandler reissued an “overweight” rating and issued a $395.00 target price on shares of Alphabet in a research note on Thursday. Finally, Canaccord Genuity Group increased their price target on Alphabet from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $343.47.

Get Our Latest Report on GOOG

Alphabet Stock Up 0.4%

GOOG stock opened at $324.40 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market capitalization of $3.91 trillion, a P/E ratio of 30.01, a P/E/G ratio of 1.79 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $350.15. The business has a 50-day moving average of $322.51 and a 200-day moving average of $272.87.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 7.77%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the transaction, the insider owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,070,464 shares of company stock worth $106,153,077 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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