Brophy Wealth Management LLC Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Brophy Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 29,706 shares of the information services provider’s stock, valued at approximately $4,927,000. Alphabet comprises 1.8% of Brophy Wealth Management LLC’s holdings, making the stock its 12th largest holding.

Several other large investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP purchased a new stake in Alphabet during the third quarter worth $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares in the company, valued at approximately $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock worth $31,358,687 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $195.42 on Wednesday. The company’s fifty day moving average price is $172.93 and its two-hundred day moving average price is $170.97. 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 firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 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.