Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,998 shares of the information services provider’s stock after selling 236 shares during the quarter. Brown Capital Management LLC’s holdings in Alphabet were worth $6,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC grew its position in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its position in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank grew its position in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares in the last quarter. Finally, Cutler Investment Counsel LLC grew its position in Alphabet by 1.7% in the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $172.64 on Friday. The stock’s 50 day moving average price is $169.30 and its 200 day moving average price is $170.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock valued at $27,803,730 in the last quarter. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Finally, Evercore ISI increased their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

About Alphabet

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.