Bridgefront Capital LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,230 shares of the information services provider's stock after selling 9,613 shares during the period. Alphabet comprises approximately 0.7% of Bridgefront Capital LLC's holdings, making the stock its 10th biggest holding. Bridgefront Capital LLC's holdings in Alphabet were worth $1,937,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOGL. Optivise Advisory Services LLC lifted its holdings in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its stake in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after buying an additional 14,262 shares in the last quarter. Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after buying an additional 258 shares during the period. Finally, Permanent Capital Management LP bought a new stake in Alphabet during the fourth quarter worth about $273,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Down 7.3 %
NASDAQ:GOOGL traded down $11.86 on Wednesday, reaching $151.38. The stock had a trading volume of 127,431,655 shares, compared to its average volume of 28,562,681. The stock has a market cap of $1.84 trillion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a 50-day moving average of $159.92 and a 200 day moving average of $175.42. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the company earned $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Mizuho reduced their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. Stifel Nicolaus decreased their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna lowered their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a report on Friday, April 25th. Finally, Citigroup upped their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.46.
Check Out Our Latest Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,824 shares of company stock valued at $25,086,603 in the last three months. Corporate insiders own 11.55% of the company's stock.
About Alphabet
(
Free Report)
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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