Bray Capital Advisors Sells 1,050 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bray Capital Advisors lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,822 shares of the information services provider’s stock after selling 1,050 shares during the quarter. Alphabet comprises approximately 3.2% of Bray Capital Advisors’ holdings, making the stock its 7th largest holding. Bray Capital Advisors’ holdings in Alphabet were worth $12,907,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter worth $41,000. Quarry LP acquired a new stake in Alphabet during the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet in the 2nd quarter valued at $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GOOGL shares. DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Down 1.7 %

Shares of NASDAQ:GOOGL opened at $164.76 on Friday. The company has a 50 day moving average price of $167.64 and a two-hundred day moving average price of $170.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the company earned $1.55 EPS. Analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet 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.