Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Bradyco Inc.

Bradyco Inc. cut its position in Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,797 shares of the information services provider’s stock after selling 4,400 shares during the period. Alphabet accounts for 6.6% of Bradyco Inc.’s holdings, making the stock its 3rd largest position. Bradyco Inc.’s holdings in Alphabet were worth $8,717,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. LSV Asset Management purchased a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOG. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Performance

NASDAQ GOOG opened at $178.79 on Thursday. The company has a fifty day moving average of $163.42 and a two-hundred day moving average of $176.21. The company has a market capitalization of $2.17 trillion, a PE ratio of 22.21, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. Company insiders own 12.99% of the company’s stock.

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.