Brown Miller Wealth Management LLC Buys 2,551 Shares of Alphabet Inc. $GOOGL

Brown Miller Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,627 shares of the information services provider’s stock after purchasing an additional 2,551 shares during the period. Alphabet makes up about 3.2% of Brown Miller Wealth Management LLC’s holdings, making the stock its 5th largest holding. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $11,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares during the period. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter valued at about $30,534,239,000. Finally, Bank of America Corp DE grew its holdings in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock valued at $21,630,861,000 after purchasing an additional 3,218,852 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $366.46 on Tuesday. Alphabet Inc. has a 1-year low of $172.77 and a 1-year high of $408.61. The stock has a market cap of $4.44 trillion, a PE ratio of 27.95, a P/E/G ratio of 1.54 and a beta of 1.24. The firm has a 50-day simple moving average of $371.05 and a two-hundred day simple moving average of $334.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, analysts forecast that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.

Analyst Ratings Changes

GOOGL has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Rosenblatt Securities reissued a “neutral” rating and issued a $393.00 price target on shares of Alphabet in a research note on Thursday, May 21st. The Goldman Sachs Group increased their price target on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Wolfe Research decreased their price objective on Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.54.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Investors are highlighting Alphabet as a top AI stock, with billionaire Jeffrey Talpins reportedly naming it a preferred AI idea, reinforcing confidence in the company’s long-term AI upside. Alphabet Inc. (GOOGL) Is A Top AI Stock To Buy According To Billionaire Jeffrey Talpins
• Positive Sentiment: Google Cloud is being touted as a major growth engine, with commentary suggesting it may be “driving the train” for Alphabet thanks to strong cloud momentum and a large backlog, which supports the bull case for revenue and margin expansion. Is Google Cloud Officially Driving the Train?
• Positive Sentiment: Alphabet was featured as a “final trade” on CNBC, and several bullish pieces point to continued investor interest in the stock after strong gains over the past year. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC’s ‘Final Trades’
• Neutral Sentiment: Articles noting Alphabet’s strong stock performance and asking whether it is too late to buy may keep the stock in focus, but they mainly reflect momentum rather than a new fundamental catalyst. Down Over 10% From Its All-Time High, Is Now the Perfect Time to Buy Alphabet Stock?
• Negative Sentiment: Regulatory pressure remains a drag after Europe’s final €4.1 billion Android antitrust ruling, which adds to legal risk around Alphabet’s mobile and search ecosystem. Alphabet (GOOGL) Faces Final €4.1b Android Antitrust Ruling In Europe
• Negative Sentiment: Privacy-related reporting that Google is expanding AI training using user-uploaded media could raise user trust and regulatory concerns, even if it also supports AI model development. If you use Google, you’re training its AI. Here’s how to opt out.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,465 shares of company stock valued at $8,020,511 over the last ninety days. 11.61% of the stock is owned by insiders.

Alphabet Company 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.