Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Stonebridge Capital Management Inc.

Stonebridge Capital Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,950 shares of the information services provider’s stock after selling 180 shares during the quarter. Stonebridge Capital Management Inc.’s holdings in Alphabet were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. WealthCare Investment Partners LLC raised its position in shares of Alphabet by 6.8% during the 1st quarter. WealthCare Investment Partners LLC now owns 3,708 shares of the information services provider’s stock worth $560,000 after purchasing an additional 235 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of Alphabet by 39.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 52,027 shares of the information services provider’s stock worth $7,852,000 after purchasing an additional 14,651 shares during the period. S.A. Mason LLC increased its position in Alphabet by 1.5% in the 1st quarter. S.A. Mason LLC now owns 10,587 shares of the information services provider’s stock valued at $1,598,000 after acquiring an additional 155 shares during the period. Affiance Financial LLC increased its position in Alphabet by 4.5% in the 1st quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock valued at $1,411,000 after acquiring an additional 400 shares during the period. Finally, Ellis Investment Partners LLC increased its position in Alphabet by 8.6% in the 1st quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock valued at $4,309,000 after acquiring an additional 2,258 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Argus raised their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Roth Mkm increased their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. increased their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Evercore ISI increased their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, Raymond James increased their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.66.

Alphabet Price Performance

NASDAQ GOOGL opened at $182.15 on Friday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05. The stock’s 50-day moving average is $172.85 and its two-hundred day moving average is $154.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the company earned $1.17 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.