Alphabet Inc. $GOOG Holdings Raised by Brookwood Investment Group LLC

Brookwood Investment Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,511 shares of the information services provider’s stock after buying an additional 1,780 shares during the quarter. Alphabet makes up about 1.0% of Brookwood Investment Group LLC’s holdings, making the stock its 19th biggest position. Brookwood Investment Group LLC’s holdings in Alphabet were worth $8,319,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Alphabet by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after buying an additional 7,904,434 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Alphabet by 5.8% during the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after buying an additional 2,209,203 shares during the last quarter. Legal & General Group Plc increased its stake in Alphabet by 0.7% in the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock valued at $7,935,671,000 after purchasing an additional 223,743 shares in the last quarter. Capital World Investors increased its stake in Alphabet by 1.9% in the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock valued at $6,971,769,000 after purchasing an additional 539,679 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Alphabet by 3.6% in the third quarter. Invesco Ltd. now owns 21,531,348 shares of the information services provider’s stock valued at $5,243,960,000 after purchasing an additional 756,602 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director directly owned 4,631 shares of the company’s stock, valued at approximately $1,405,091.71. The trade was a 18.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,818,524 shares in the company, valued at $856,605,814.08. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,068,744 shares of company stock worth $104,505,914 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Sanford C. Bernstein restated a “market perform” rating and set a $345.00 target price on shares of Alphabet in a report on Thursday, February 5th. Needham & Company LLC set a $400.00 price target on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, March 13th. Pivotal Research reissued a “buy” rating and issued a $420.00 price objective (up from $400.00) on shares of Alphabet in a research report on Thursday, February 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $395.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Eight investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $346.03.

Read Our Latest Research Report on Alphabet

Alphabet Stock Performance

Shares of GOOG stock opened at $339.40 on Friday. The firm has a market capitalization of $4.11 trillion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The firm has a fifty day simple moving average of $305.98 and a two-hundred day simple moving average of $301.50. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 12 month low of $148.40 and a 12 month high of $350.15.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.15 EPS. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s payout ratio is 7.77%.

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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