Brooktree Capital Management Acquires New Position in Alphabet Inc. $GOOGL

Brooktree Capital Management bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,000 shares of the information services provider’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC raised its holdings in Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares during the period. Greatmark Investment Partners Inc. boosted its position in shares of Alphabet by 1.5% during the first quarter. Greatmark Investment Partners Inc. now owns 6,570 shares of the information services provider’s stock worth $1,016,000 after purchasing an additional 100 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Alphabet by 6.0% during the first quarter. CWM LLC now owns 973,415 shares of the information services provider’s stock worth $150,529,000 after purchasing an additional 55,385 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOGL shares. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. The Goldman Sachs Group increased their target price on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Price Performance

Shares of GOOGL opened at $285.02 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $293.95. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a 50 day moving average of $258.26 and a 200-day moving average of $210.16.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,396 shares of company stock worth $54,151,037 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

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.