16,478 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Rockbridge Capital Management LLC

Rockbridge Capital Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,478 shares of the information services provider's stock, valued at approximately $3,119,000. Alphabet comprises about 1.8% of Rockbridge Capital Management LLC's holdings, making the stock its 14th biggest position.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter worth $24,383,677,000. FMR LLC increased its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Capital Research Global Investors lifted its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Truist Financial decreased their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Rosenblatt Securities reduced their price objective on Alphabet from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Up 3.7%

Alphabet stock opened at $165.37 on Thursday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.54, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a 50-day simple moving average of $158.21 and a 200-day simple moving average of $175.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is 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.

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