Alphabet Inc. $GOOGL Stake Lifted by BayBridge Capital Group LLC

BayBridge Capital Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,739 shares of the information services provider’s stock after acquiring an additional 579 shares during the period. Alphabet makes up approximately 1.6% of BayBridge Capital Group LLC’s investment portfolio, making the stock its 14th biggest position. BayBridge Capital Group LLC’s holdings in Alphabet were worth $2,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 in the last 90 days. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Guggenheim increased their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Rosenblatt Securities upped their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. JMP Securities upped their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Finally, Morgan Stanley set a $270.00 price target on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $240.76.

Alphabet Stock Up 0.3%

GOOGL stock opened at $245.69 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.65 and a beta of 1.00. The company has a 50 day moving average of $220.21 and a two-hundred day moving average of $185.22.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

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.