Garrison Bradford & Associates Inc. Has $1.53 Million Holdings in Alphabet Inc. $GOOGL

Garrison Bradford & Associates Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1,703.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,656 shares of the information services provider’s stock after purchasing an additional 8,176 shares during the quarter. Alphabet accounts for 1.7% of Garrison Bradford & Associates Inc.’s holdings, making the stock its 16th largest position. Garrison Bradford & Associates Inc.’s holdings in Alphabet were worth $1,525,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its stake in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after buying an additional 104,859 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Westpark Capital boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Daiwa Capital Markets lifted their price objective on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Evercore ISI upped their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Bank of America raised their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Stock Performance

Shares of GOOGL stock opened at $276.41 on Friday. The business’s 50-day moving average price is $257.24 and its 200-day moving average price is $208.59. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $292.01. The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 221,796 shares of company stock valued at $53,983,001. Insiders own 11.55% of the company’s stock.

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.