Brophy Wealth Management LLC Acquires Shares of 29,706 Alphabet Inc. (NASDAQ:GOOGL)

Brophy Wealth Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,706 shares of the information services provider’s stock, valued at approximately $4,927,000. Alphabet accounts for approximately 1.8% of Brophy Wealth Management LLC’s holdings, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vestcor Inc boosted its holdings in Alphabet by 0.7% in the 3rd quarter. Vestcor Inc now owns 117,651 shares of the information services provider’s stock worth $19,512,000 after buying an additional 829 shares during the last quarter. Conway Capital Management Inc. purchased a new position in shares of Alphabet in the third quarter valued at approximately $4,346,000. Resources Management Corp CT ADV boosted its stake in shares of Alphabet by 1.7% in the third quarter. Resources Management Corp CT ADV now owns 77,319 shares of the information services provider’s stock worth $12,823,000 after acquiring an additional 1,290 shares during the last quarter. Executive Wealth Management LLC increased its position in shares of Alphabet by 13.8% during the third quarter. Executive Wealth Management LLC now owns 48,734 shares of the information services provider’s stock worth $8,083,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Abel Hall LLC raised its stake in Alphabet by 2.5% in the 3rd quarter. Abel Hall LLC now owns 5,694 shares of the information services provider’s stock valued at $944,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $195.42 on Wednesday. The firm has a fifty day moving average price of $172.93 and a 200 day moving average price of $170.97. The stock has a market cap of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Tigress Financial increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Bank of America lifted their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.08.

About Alphabet

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.