Brookstone Capital Management Acquires 12,920 Shares of Alphabet Inc. $GOOG

Key Points

• Brookstone Capital Management boosted its Alphabet stake by 24.5% in the first quarter, buying 12,920 additional shares and bringing its total holdings to 65,665 shares valued at about $18.8 million.
• Alphabet’s latest quarterly results were strong, with EPS of $5.11 beating estimates and revenue rising 21.8% year over year to $109.9 billion, while the company also increased its quarterly dividend to $0.22 per share.
• Wall Street remains broadly positive on GOOG: analysts have an average Buy rating with a consensus price target of $376.78, though some executives have recently sold shares and insider selling totaled 160,516 shares over the past 90 days.

Brookstone Capital Management increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,665 shares of the information services provider's stock after buying an additional 12,920 shares during the period. Brookstone Capital Management's holdings in Alphabet were worth $18,837,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Everstar Asset Management LLC increased its position in Alphabet by 2.3% in the 1st quarter. Everstar Asset Management LLC now owns 4,851 shares of the information services provider's stock valued at $1,392,000 after acquiring an additional 108 shares during the period. jvl associates llc lifted its holdings in shares of Alphabet by 1.3% during the first quarter. jvl associates llc now owns 10,537 shares of the information services provider's stock worth $3,023,000 after purchasing an additional 131 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Alphabet by 78.7% during the first quarter. SG Americas Securities LLC now owns 10,824,846 shares of the information services provider's stock worth $3,105,215,000 after purchasing an additional 4,768,117 shares during the period. Smith Salley Wealth Management grew its stake in shares of Alphabet by 0.9% in the first quarter. Smith Salley Wealth Management now owns 278,314 shares of the information services provider's stock worth $79,837,000 after purchasing an additional 2,482 shares during the last quarter. Finally, Southern Capital Advisors LLC grew its stake in shares of Alphabet by 2.3% in the first quarter. Southern Capital Advisors LLC now owns 1,947 shares of the information services provider's stock worth $558,000 after purchasing an additional 44 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. KeyCorp restated an "overweight" rating on shares of Alphabet in a report on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Truist Financial set a $430.00 price target on Alphabet in a research report on Monday, June 1st. Stifel Nicolaus set a $420.00 price target on Alphabet in a research note on Wednesday, May 20th. Finally, Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Wednesday, April 15th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Buy" and a consensus price target of $376.78.

Alphabet Trading Down 0.6%

NASDAQ:GOOG opened at $346.55 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.49 and a beta of 1.22. The firm has a fifty day simple moving average of $365.57 and a two-hundred day simple moving average of $331.59. Alphabet Inc. has a 12 month low of $166.91 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same period in the prior year, the firm posted $2.81 EPS. Alphabet's quarterly revenue was up 21.8% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is currently 6.71%.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares of the company's stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 160,516 shares of company stock valued at $7,344,604 in the last ninety days. Insiders own 12.99% of the company's stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What's Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google's YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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