Brookstone Capital Management Has $5.62 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Brookstone Capital Management boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 46,802 shares of the information services provider’s stock after buying an additional 1,727 shares during the period. Brookstone Capital Management’s holdings in Alphabet were worth $5,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. BlackRock Inc. lifted its stake in Alphabet by 0.3% in the 1st quarter. BlackRock Inc. now owns 365,927,668 shares of the information services provider’s stock valued at $38,056,478,000 after acquiring an additional 1,230,697 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock worth $8,631,760,000 after buying an additional 988,569 shares in the last quarter. Morgan Stanley raised its holdings in Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Alphabet by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 71,490,715 shares of the information services provider’s stock valued at $7,435,034,000 after purchasing an additional 2,041,609 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Oppenheimer increased their price target on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Susquehanna increased their price objective on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Finally, Wedbush started coverage on shares of Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $130.94.

Alphabet Price Performance

Alphabet stock opened at $138.96 on Tuesday. The stock has a 50-day moving average price of $130.22 and a two-hundred day moving average price of $118.50. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.93. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a P/E/G ratio of 1.60 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.