Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,311,708 shares of the information services provider’s stock after selling 66,657 shares during the quarter. Alphabet accounts for 6.0% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 2nd largest holding. Brown Brothers Harriman & Co.’s holdings in Alphabet were worth $790,854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter worth $37,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet in the 2nd quarter worth $44,000. Hoese & Co LLP grew its position in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new position in Alphabet during the second quarter worth $48,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.4 %

NASDAQ:GOOG opened at $158.99 on Tuesday. The firm’s 50 day moving average is $168.43 and its 200 day moving average is $166.48. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market capitalization of $1.96 trillion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $34,341,581 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.86.

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.