Brown Brothers Harriman & Co. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Brown Brothers Harriman & Co. increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 533,632 shares of the information services provider’s stock after acquiring an additional 18,656 shares during the quarter. Alphabet comprises approximately 0.7% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 29th biggest position. Brown Brothers Harriman & Co.’s holdings in Alphabet were worth $97,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nebula Research & Development LLC acquired a new position in Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust lifted its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the last quarter. Finally, American International Group Inc. increased its stake in Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock worth $272,655,000 after purchasing an additional 200,891 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOOGL shares. Citigroup boosted their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Evercore ISI cut their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price target on shares of Alphabet in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.35.

View Our Latest Stock Report on GOOGL

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $163.95 on Monday. The firm’s fifty day moving average is $162.83 and its 200-day moving average is $166.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS. Equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,605 shares of company stock worth $29,277,931. Insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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