Brookwood Investment Group LLC Cuts Stake in Alphabet Inc. $GOOGL

Brookwood Investment Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,439 shares of the information services provider’s stock after selling 6,444 shares during the period. Alphabet comprises about 1.0% of Brookwood Investment Group LLC’s portfolio, making the stock its 14th largest holding. Brookwood Investment Group LLC’s holdings in Alphabet were worth $6,422,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. increased its stake in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG increased its position in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 222,396 shares of company stock valued at $54,105,275. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $278.83 on Friday. The business’s 50 day moving average price is $251.23 and its 200-day moving average price is $204.19. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The company has a market cap of $3.37 trillion, a P/E ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Needham & Company LLC upped their target price on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Citizens Jmp upped their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. DA Davidson increased their price target on shares of Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Stifel Nicolaus set a $333.00 price objective on Alphabet in a research note on Thursday, October 30th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

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.