Brooklyn Investment Group Has $7.08 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Brooklyn Investment Group boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,378 shares of the information services provider’s stock after purchasing an additional 3,011 shares during the quarter. Alphabet makes up 2.1% of Brooklyn Investment Group’s portfolio, making the stock its 6th biggest position. Brooklyn Investment Group’s holdings in Alphabet were worth $7,076,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. State Street Corp boosted its position in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after buying an additional 523,416 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Loop Capital raised their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley lifted their target price on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Alphabet Trading Up 1.6 %

GOOGL opened at $196.00 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $184.43 and a 200-day moving average price of $173.25. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last quarter. 11.55% of the stock is currently owned by insiders.

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.