Brookstone Capital Management Sells 2,179 Shares of Alphabet Inc. (NASDAQ:GOOG)

Brookstone Capital Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,316 shares of the information services provider’s stock after selling 2,179 shares during the quarter. Brookstone Capital Management’s holdings in Alphabet were worth $8,747,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in Alphabet in the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP acquired a new position in Alphabet in the second quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth about $44,000. 27.26% of the stock is currently owned by 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 dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $163.06 on Thursday. The stock has a market capitalization of $2.02 trillion, a PE ratio of 24.98, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $163.27 and a 200 day simple moving average of $169.12. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer lowered their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. UBS Group dropped their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday. Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

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.