Braun Stacey Associates Inc. Sells 32,643 Shares of Alphabet Inc. (NASDAQ:GOOG)

Braun Stacey Associates Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,365 shares of the information services provider’s stock after selling 32,643 shares during the period. Alphabet makes up 1.3% of Braun Stacey Associates Inc.’s portfolio, making the stock its 15th largest holding. Braun Stacey Associates Inc.’s holdings in Alphabet were worth $35,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth about $44,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock worth $34,471,141 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 2.0 %

Shares of Alphabet stock opened at $173.89 on Monday. The stock has a fifty day simple moving average of $167.01 and a 200 day simple moving average of $171.74. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a market capitalization of $2.13 trillion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOOG shares. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.