Brooklyn Investment Group Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Brooklyn Investment Group grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,367 shares of the information services provider’s stock after buying an additional 1,879 shares during the period. Alphabet makes up approximately 1.9% of Brooklyn Investment Group’s investment portfolio, making the stock its 5th largest position. Brooklyn Investment Group’s holdings in Alphabet were worth $5,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. LMR Partners LLP bought a new position in shares of Alphabet in the third quarter valued at approximately $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new stake in Alphabet during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.5 %

NASDAQ GOOGL opened at $175.37 on Tuesday. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.15 trillion, a PE ratio of 23.26, a PEG ratio of 1.24 and a beta of 1.01. The firm has a 50-day simple moving average of $169.70 and a 200 day simple moving average of $170.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm earned $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Evercore ISI lifted their price target on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, Loop Capital boosted their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given 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 price target of $205.90.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 4.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,789 shares of company stock worth $27,374,143. 11.55% of the stock is currently owned by corporate 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.