Brown Miller Wealth Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Brown Miller Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,613 shares of the information services provider’s stock after purchasing an additional 108 shares during the quarter. Alphabet makes up 2.0% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 6th biggest position. Brown Miller Wealth Management LLC’s holdings in Alphabet were worth $5,077,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $30,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth $41,000. Finally, Quarry LP bought a new stake in Alphabet during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 0.3 %

Shares of GOOGL opened at $163.42 on Monday. The firm has a 50 day simple moving average of $161.77 and a two-hundred day simple moving average of $168.25. The company has a market cap of $2.02 trillion, a P/E ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the company earned $1.44 EPS. Research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Piper Sandler restated an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Argus raised their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Tuesday, October 15th. Finally, Truist Financial raised their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Eight research 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, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.