Alphabet Inc. $GOOG Shares Acquired by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its holdings in Alphabet Inc. by 15.4%, now owning 35,592 shares valued at approximately $5,560,000, making Alphabet the fund's 12th largest holding.
• Insider sales included CEO Sundar Pichai selling 32,500 shares for about $6.38 million and Director Kavitark Ram Shriram selling 15,000 shares, indicating a decline in their ownership stakes.
• Alphabet's recent earnings report showed $2.31 EPS, exceeding estimates, with revenue of $96.43 billion, marking a 13.8% increase year-over-year.

Brooklyn Investment Group boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,592 shares of the information services provider's stock after acquiring an additional 4,749 shares during the period. Alphabet accounts for about 1.2% of Brooklyn Investment Group's holdings, making the stock its 12th biggest position. Brooklyn Investment Group's holdings in Alphabet were worth $5,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Keystone Global Partners LLC purchased a new stake in Alphabet in the 1st quarter valued at approximately $569,000. Mill Creek Capital Advisors LLC boosted its holdings in Alphabet by 11.7% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 26,463 shares of the information services provider's stock valued at $4,134,000 after purchasing an additional 2,767 shares in the last quarter. Blue Edge Capital LLC boosted its holdings in Alphabet by 0.5% in the 1st quarter. Blue Edge Capital LLC now owns 27,306 shares of the information services provider's stock valued at $4,266,000 after purchasing an additional 144 shares in the last quarter. 17 Capital Partners LLC boosted its holdings in Alphabet by 149.1% in the 1st quarter. 17 Capital Partners LLC now owns 11,562 shares of the information services provider's stock valued at $1,806,000 after purchasing an additional 6,921 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Alphabet by 8.0% in the 1st quarter. Algert Global LLC now owns 43,014 shares of the information services provider's stock valued at $6,720,000 after purchasing an additional 3,172 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOG shares. Scotiabank lifted their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.24 during trading on Wednesday, hitting $200.25. 11,776,718 shares of the company were exchanged, compared to its average volume of 23,779,943. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.38 and a beta of 1.02. The firm has a 50 day moving average price of $186.19 and a 200 day moving average price of $174.71.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,319 shares of company stock worth $44,243,272. 12.99% of the stock is currently owned by insiders.

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.