Brass Tax Wealth Management Inc. Has $1.43 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Brass Tax Wealth Management Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,625 shares of the information services provider’s stock after purchasing an additional 128 shares during the period. Brass Tax Wealth Management Inc.’s holdings in Alphabet were worth $1,431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. Legacy Wealth Management LLC MS boosted its holdings in shares of Alphabet by 12.1% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 47,077 shares of the information services provider’s stock valued at $7,808,000 after purchasing an additional 5,091 shares in the last quarter. Alternative Investment Advisors LLC. boosted its stake in Alphabet by 3.4% in the third quarter. Alternative Investment Advisors LLC. now owns 11,063 shares of the information services provider’s stock valued at $1,835,000 after buying an additional 360 shares in the last quarter. DGS Capital Management LLC boosted its stake in Alphabet by 8.7% in the third quarter. DGS Capital Management LLC now owns 17,621 shares of the information services provider’s stock valued at $2,922,000 after buying an additional 1,414 shares in the last quarter. Garden State Investment Advisory Services LLC grew its position in Alphabet by 24.3% in the third quarter. Garden State Investment Advisory Services LLC now owns 12,936 shares of the information services provider’s stock valued at $2,146,000 after acquiring an additional 2,532 shares during the last quarter. Finally, FFG Partners LLC raised its stake in Alphabet by 1.6% during the third quarter. FFG Partners LLC now owns 77,642 shares of the information services provider’s stock worth $12,877,000 after acquiring an additional 1,186 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,957 shares of company stock worth $31,358,687. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $188.51 on Friday. The firm has a 50 day moving average of $173.99 and a 200-day moving average of $171.21. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company posted $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Seven equities 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 company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $206.69.

Alphabet Company 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.