Brooktree Capital Management Makes New $355,000 Investment in Alphabet Inc. $GOOG

Brooktree Capital Management purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, HoldingsChannel reports. The fund purchased 2,000 shares of the information services provider’s stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC grew its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its stake in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC increased its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,896 shares of company stock worth $44,892,175 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $285.34 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.45 trillion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company’s 50 day moving average is $250.48 and its 200 day moving average is $204.23.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Company 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.