Three Bridge Wealth Advisors LLC Acquires 4,719 Shares of Alphabet Inc. $GOOGL

Three Bridge Wealth Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,612 shares of the information services provider’s stock after purchasing an additional 4,719 shares during the period. Alphabet comprises about 0.9% of Three Bridge Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Three Bridge Wealth Advisors LLC’s holdings in Alphabet were worth $3,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Missouri Trust & Investment Co grew its holdings in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its holdings in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC grew its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the last quarter. Financial Council LLC grew its holdings in Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the last quarter. Finally, Enzi Wealth grew its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were 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 $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock worth $59,062,683 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 3.2%

Shares of NASDAQ:GOOGL opened at $244.15 on Tuesday. The company has a market cap of $2.95 trillion, a P/E ratio of 26.00, a PEG ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The stock’s fifty day moving average price is $227.30 and its 200-day moving average price is $189.47.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. 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 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Canaccord Genuity Group lifted their price objective on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Melius Research lifted their price target on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $247.40.

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.