Brasada Capital Management LP Reduces Stock Holdings in Alphabet Inc. $GOOGL

Brasada Capital Management LP lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 97,827 shares of the information services provider’s stock after selling 4,864 shares during the period. Alphabet accounts for approximately 5.2% of Brasada Capital Management LP’s holdings, making the stock its biggest position. Brasada Capital Management LP’s holdings in Alphabet were worth $30,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. PMV Capital Advisers LLC bought a new position in shares of Alphabet in the fourth quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $38,000. Kentucky Trust Co increased its holdings in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after buying an additional 100 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of Alphabet in the third quarter valued at $53,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $69,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. Oppenheimer upped their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Citigroup reissued an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. The Goldman Sachs Group boosted their target price on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. President Capital boosted their target price on shares of Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.13.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 193,016 shares of company stock worth $17,282,549 over the last 90 days. 11.61% of the stock is currently owned by insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Alphabet Trading Up 0.5%

Alphabet stock opened at $359.68 on Friday. The company’s fifty day simple moving average is $360.45 and its 200-day simple moving average is $330.26. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The stock has a market cap of $4.36 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.