Brown Miller Wealth Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Brown Miller Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,090 shares of the information services provider’s stock after purchasing an additional 477 shares during the quarter. Alphabet comprises approximately 2.3% of Brown Miller Wealth Management LLC’s holdings, making the stock its 5th largest position. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $5,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its holdings in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Amundi raised its stake in shares of Alphabet by 18.7% in the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after purchasing an additional 4,694,621 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alphabet in the third quarter worth $513,024,000. Finally, Geode Capital Management LLC boosted its stake in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $165.06 on Thursday. The stock has a market cap of $2.01 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock has a 50-day moving average price of $181.11 and a two-hundred day moving average price of $176.78. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOGL shares. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.59.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by insiders.

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.