Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Brooklyn FI LLC

Brooklyn FI LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 50.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,586 shares of the information services provider’s stock after acquiring an additional 863 shares during the quarter. Brooklyn FI LLC’s holdings in Alphabet were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. PointState Capital LP purchased a new position in Alphabet in the third quarter valued at about $28,651,000. 3G Capital Partners LP raised its position in Alphabet by 141.7% in the third quarter. 3G Capital Partners LP now owns 72,500 shares of the information services provider’s stock valued at $9,487,000 after purchasing an additional 42,500 shares during the period. Karani Asset Management LLC raised its position in Alphabet by 97.4% in the third quarter. Karani Asset Management LLC now owns 13,621 shares of the information services provider’s stock valued at $1,782,000 after purchasing an additional 6,720 shares during the period. Dempze Nancy E raised its position in Alphabet by 0.5% in the third quarter. Dempze Nancy E now owns 33,595 shares of the information services provider’s stock valued at $4,396,000 after purchasing an additional 165 shares during the period. Finally, Northeast Financial Consultants Inc increased its position in shares of Alphabet by 1.9% during the third quarter. Northeast Financial Consultants Inc now owns 183,695 shares of the information services provider’s stock worth $24,038,000 after acquiring an additional 3,456 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Wells Fargo & Company lifted their target price on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. TD Cowen lifted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Argus lifted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $185.24 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $173.38 and a 200-day simple moving average of $154.80. The company has a market cap of $2.29 trillion, a PE ratio of 28.41, a P/E/G ratio of 1.37 and a beta of 1.05. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $186.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

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.