Alphabet Inc. $GOOGL Shares Sold by Brookstone Capital Management

Brookstone Capital Management trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 281,913 shares of the information services provider’s stock after selling 36,078 shares during the period. Brookstone Capital Management’s holdings in Alphabet were worth $49,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% during the first 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 purchasing an additional 4,473,901 shares during the period. Invesco Ltd. raised its stake in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG raised its stake in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 0.3% during the first 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 period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Oppenheimer increased their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. HSBC increased their price target on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BNP Paribas Exane increased their price target on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $302.20.

Alphabet Price Performance

GOOGL opened at $281.31 on Friday. The company has a fifty day simple moving average of $244.00 and a 200 day simple moving average of $199.98. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last ninety days. 11.64% of the stock is 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.