Brooklyn Investment Group boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,530 shares of the information services provider's stock after acquiring an additional 8,152 shares during the period. Alphabet accounts for about 1.5% of Brooklyn Investment Group's holdings, making the stock its 7th biggest position. Brooklyn Investment Group's holdings in Alphabet were worth $7,041,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. 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 600 shares of Alphabet stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,719 shares of company stock valued at $47,223,172. Insiders own 11.64% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Guggenheim upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wedbush increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Wells Fargo & Company increased their price objective on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $211.53.
Get Our Latest Report on Alphabet
Alphabet Stock Up 3.2%
NASDAQ GOOGL opened at $206.09 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $208.54. The firm has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average of $186.81 and a two-hundred day moving average of $173.37. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Alphabet Company Profile
(
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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