Alphabet Inc. (NASDAQ:GOOG) is Brown Shipley& Co Ltd’s 3rd Largest Position

Brown Shipley& Co Ltd lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.0% in the third quarter, HoldingsChannel.com reports. The fund owned 93,982 shares of the information services provider’s stock after selling 6,015 shares during the quarter. Alphabet comprises about 7.8% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 3rd biggest holding. Brown Shipley& Co Ltd’s holdings in Alphabet were worth $15,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. Jennison Associates LLC grew its stake in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after buying an additional 1,291,274 shares during the period. Dimensional Fund Advisors LP increased its holdings in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after purchasing an additional 636,008 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Alphabet by 2.3% in the second quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider’s stock valued at $2,261,103,000 after buying an additional 282,121 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price 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. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.1 %

GOOG stock opened at $170.82 on Thursday. The firm has a market cap of $2.09 trillion, a PE ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. 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 50 day simple moving average of $169.71 and a 200 day simple moving average of $171.85. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its 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. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.