Alphabet Inc. (NASDAQ:GOOG) is Brooklyn Investment Group’s 7th Largest Position

Brooklyn Investment Group raised its position in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,921 shares of the information services provider’s stock after acquiring an additional 1,805 shares during the period. Alphabet makes up approximately 1.6% of Brooklyn Investment Group’s holdings, making the stock its 7th biggest holding. Brooklyn Investment Group’s holdings in Alphabet were worth $5,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Covington Investment Advisors Inc. grew its stake in shares of Alphabet by 1.0% during the third quarter. Covington Investment Advisors Inc. now owns 222,275 shares of the information services provider’s stock worth $37,162,000 after acquiring an additional 2,150 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Alphabet during the third quarter worth $1,445,000. D.A. Davidson & CO. grew its holdings in shares of Alphabet by 1.5% during the third quarter. D.A. Davidson & CO. now owns 286,906 shares of the information services provider’s stock valued at $47,968,000 after buying an additional 4,233 shares during the last quarter. FMR LLC increased its position in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Finally, Elios Financial Group Inc. purchased a new position in Alphabet in the 3rd quarter worth $211,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Up 1.7 %

Shares of NASDAQ:GOOG opened at $169.43 on Tuesday. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04. The business’s 50 day moving average price is $169.30 and its 200-day moving average price is $171.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Alphabet Profile

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.