Brooklyn FI LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Brooklyn FI LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 4.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,673 shares of the information services provider’s stock after selling 286 shares during the period. Brooklyn FI LLC’s holdings in Alphabet were worth $948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial River Wealth Management LLC lifted its holdings in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares in the last quarter. Alliance Wealth Management Group lifted its holdings in Alphabet by 93.6% in the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after purchasing an additional 115,716 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock valued at $37,776,954 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 0.0 %

Shares of NASDAQ:GOOG opened at $172.65 on Friday. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $128.11 and a 52-week high of $193.31. The company has a 50 day moving average of $163.81 and a two-hundred day moving average of $170.53. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the company earned $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. 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.