Brooklyn FI LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Brooklyn FI LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,673 shares of the information services provider’s stock after selling 286 shares during the quarter. Brooklyn FI LLC’s holdings in Alphabet were worth $948,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. First Interstate Bank lifted its position in shares of Alphabet by 0.8% during the 3rd quarter. First Interstate Bank now owns 8,571 shares of the information services provider’s stock worth $1,433,000 after buying an additional 64 shares during the last quarter. Key Financial Inc lifted its position in shares of Alphabet by 1.1% during the 3rd quarter. Key Financial Inc now owns 7,460 shares of the information services provider’s stock worth $1,247,000 after buying an additional 80 shares during the last quarter. F M Investments LLC lifted its position in shares of Alphabet by 150.7% during the 3rd quarter. F M Investments LLC now owns 49,291 shares of the information services provider’s stock worth $8,145,000 after buying an additional 29,630 shares during the last quarter. Dash Acquisitions Inc. lifted its position in shares of Alphabet by 6.3% during the 3rd quarter. Dash Acquisitions Inc. now owns 158,967 shares of the information services provider’s stock worth $26,546,000 after buying an additional 9,394 shares during the last quarter. Finally, Weatherly Asset Management L. P. lifted its position in shares of Alphabet by 1.0% during the 3rd quarter. Weatherly Asset Management L. P. now owns 27,186 shares of the information services provider’s stock worth $4,545,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock valued at $37,776,954 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $172.65 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $128.11 and a 1 year high of $193.31. The stock has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a P/E/G ratio of 1.24 and a beta of 1.04. The company’s fifty day moving average is $163.81 and its two-hundred day moving average is $170.53.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOG shares. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

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.