Brooklyn Investment Group Boosts Stock Holdings in Alphabet Inc. $GOOG

by · The Cerbat Gem

Brooklyn Investment Group boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,592 shares of the information services provider’s stock after purchasing an additional 4,749 shares during the period. Alphabet comprises approximately 1.2% of Brooklyn Investment Group’s portfolio, making the stock its 12th biggest holding. Brooklyn Investment Group’s holdings in Alphabet were worth $5,560,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JDM Financial Group LLC increased its holdings in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after purchasing an additional 57 shares during the period. Objectivity Squared LLC increased its holdings in shares of Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after purchasing an additional 62 shares during the period. Tranquility Partners LLC increased its stake in Alphabet by 0.4% in the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after acquiring an additional 63 shares during the last quarter. Stonebridge Financial Group LLC increased its stake in Alphabet by 0.6% in the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock valued at $1,664,000 after acquiring an additional 64 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Alphabet by 28.5% in the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction 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 Alphabet stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,819 shares of company stock valued at $49,796,547. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Read Our Latest Report on Alphabet

Alphabet Stock Performance

Shares of GOOG opened at $204.91 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a 50-day simple moving average of $185.21 and a two-hundred day simple moving average of $174.52. The firm has a market capitalization of $2.48 trillion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

About Alphabet

(Free Report)

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.

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