Bridgeway Capital Management LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bridgeway Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,816 shares of the information services provider's stock after selling 5,726 shares during the quarter. Bridgeway Capital Management LLC's holdings in Alphabet were worth $14,163,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank bought a new position in Alphabet in the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the last quarter. Capital Research Global Investors increased its holdings 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 worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alphabet by 17.0% in the fourth 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 last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $164.21 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock's 50 day simple moving average is $160.02 and its two-hundred day simple moving average is $175.50.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Tigress Financial lifted their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Westpark Capital upgraded shares of Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Finally, Truist Financial reduced their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.46.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,824 shares of the stock in a transaction on 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 $2,815,948.32. This trade represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,824 shares of company stock worth $25,086,603 over the last three months. 11.55% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.