Brooklyn FI LLC Sells 84 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Brooklyn FI LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,502 shares of the information services provider’s stock after selling 84 shares during the period. Brooklyn FI LLC’s holdings in Alphabet were worth $456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TrinityPoint Wealth LLC raised its holdings in shares of Alphabet by 1.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock valued at $8,259,000 after purchasing an additional 907 shares during the last quarter. MainStreet Investment Advisors LLC grew its position in Alphabet by 4.0% in the 4th quarter. MainStreet Investment Advisors LLC now owns 148,129 shares of the information services provider’s stock worth $20,692,000 after purchasing an additional 5,730 shares during the period. Brady Family Wealth LLC raised its stake in Alphabet by 8.9% during the 4th quarter. Brady Family Wealth LLC now owns 65,433 shares of the information services provider’s stock valued at $9,140,000 after buying an additional 5,367 shares during the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Alphabet during the 4th quarter valued at $272,000. Finally, PineStone Asset Management Inc. boosted its stake in shares of Alphabet by 22.6% in the 4th quarter. PineStone Asset Management Inc. now owns 5,070,862 shares of the information services provider’s stock worth $708,349,000 after buying an additional 934,817 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOGL shares. Cantor Fitzgerald started coverage on Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective for the company. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, Piper Sandler cut their price objective on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOGL opened at $163.59 on Monday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business’s 50 day moving average is $164.72 and its 200 day moving average is $165.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.