Bray Capital Advisors Sells 65 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bray Capital Advisors trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,440 shares of the information services provider’s stock after selling 65 shares during the quarter. Bray Capital Advisors’ holdings in Alphabet were worth $2,960,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Veracity Capital LLC boosted its holdings in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of Alphabet by 36.7% in the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after purchasing an additional 4,044 shares during the last quarter. Finally, Investment Partners LTD. raised its stake in shares of Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 410 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOG shares. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.86.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 2.4 %

GOOG stock traded up $4.57 during midday trading on Friday, reaching $191.96. 14,303,361 shares of the company traded hands, compared to its average volume of 15,944,221. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $192.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average of $176.95 and a 200-day moving average of $157.38. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.