Brookwood Investment Group LLC Buys Shares of 42,883 Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Brookwood Investment Group LLC acquired 42,883 shares of Alphabet Inc., valued at approximately $6.6 million, making it the firm’s 17th largest position, accounting for 1.1% of its portfolio.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annualized dividend of $0.84, with a yield of 0.4%. This dividend is scheduled for payment on September 15th.
• Several research firms have raised their target price for Alphabet shares, with Susquehanna increasing its forecast from $220.00 to $225.00 and Guggenheim raising it from $190.00 to $210.00, indicating strong investor confidence.

Brookwood Investment Group LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 42,883 shares of the information services provider's stock, valued at approximately $6,632,000. Alphabet makes up approximately 1.1% of Brookwood Investment Group LLC's holdings, making the stock its 17th largest position.

Other large investors also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its position in Alphabet by 12.2% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 1,166,898 shares of the information services provider's stock valued at $180,464,000 after purchasing an additional 126,539 shares during the period. Kelman Lazarov Inc. lifted its position in Alphabet by 1.2% during the 1st quarter. Kelman Lazarov Inc. now owns 13,242 shares of the information services provider's stock valued at $2,048,000 after purchasing an additional 161 shares during the period. Morling Financial Advisors LLC lifted its position in Alphabet by 385.0% during the 1st quarter. Morling Financial Advisors LLC now owns 8,507 shares of the information services provider's stock valued at $1,316,000 after purchasing an additional 6,753 shares during the period. Davis Rea LTD. lifted its position in Alphabet by 173.7% during the 1st quarter. Davis Rea LTD. now owns 161,427 shares of the information services provider's stock valued at $24,963,000 after purchasing an additional 102,438 shares during the period. Finally, Lincluden Management Ltd. lifted its position in Alphabet by 0.4% during the 1st quarter. Lincluden Management Ltd. now owns 50,158 shares of the information services provider's stock valued at $7,756,000 after purchasing an additional 187 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm'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 owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 in the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL traded down $2.77 during midday trading on Friday, reaching $189.13. 34,777,882 shares of the stock were exchanged, compared to its average volume of 38,669,572. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.30 trillion, a P/E ratio of 20.14, a PEG ratio of 1.30 and a beta of 1.01. The stock's 50 day simple moving average is $178.32 and its 200 day simple moving average is $173.12.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOGL shares. Roth Capital increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. KeyCorp increased their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup increased their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC increased their price target 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. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $211.39.

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.