Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bridge Advisory LLC

Bridge Advisory LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,100 shares of the information services provider’s stock after selling 1,112 shares during the period. Bridge Advisory LLC’s holdings in Alphabet were worth $921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GOOGL. W Advisors LLC increased its holdings in shares of Alphabet by 5.3% during the third quarter. W Advisors LLC now owns 4,440 shares of the information services provider’s stock valued at $581,000 after purchasing an additional 225 shares during the period. Valley National Advisers Inc. increased its stake in Alphabet by 8.8% during the 3rd quarter. Valley National Advisers Inc. now owns 17,741 shares of the information services provider’s stock valued at $2,322,000 after buying an additional 1,440 shares during the period. Truvestments Capital LLC raised its position in shares of Alphabet by 10.1% during the 3rd quarter. Truvestments Capital LLC now owns 8,173 shares of the information services provider’s stock worth $1,070,000 after buying an additional 751 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Alphabet by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 2,720,789 shares of the information services provider’s stock worth $356,042,000 after acquiring an additional 10,237 shares during the period. Finally, Towercrest Capital Management boosted its holdings in shares of Alphabet by 1.8% in the third quarter. Towercrest Capital Management now owns 7,492 shares of the information services provider’s stock valued at $980,000 after acquiring an additional 130 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. KeyCorp raised their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Roth Mkm increased their price objective on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Six research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $193.66.

Alphabet Stock Down 1.8 %

Alphabet stock opened at $182.15 on Monday. The firm has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.37 and a beta of 1.01. The firm has a fifty day moving average price of $172.85 and a two-hundred day moving average price of $154.44. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced 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. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Insiders sold a total of 143,026 shares of company stock worth $24,026,243 in the last ninety days. 11.55% of the stock is currently owned by insiders.

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.