Alphabet Inc. $GOOGL Shares Bought by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC increased its stake in Alphabet Inc. by 17.9%, holding 88,187 shares worth approximately $13.6 million as of the latest reporting period.
• Alphabet recently reported earnings of $2.31 EPS, surpassing estimates, with revenue of $96.43 billion for the quarter.
• Alphabet announced a quarterly dividend of $0.21 per share, with an expected annual yield of 0.4%, reflecting confidence in its financial position.

Bridgeway Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,187 shares of the information services provider's stock after purchasing an additional 13,371 shares during the quarter. Bridgeway Capital Management LLC's holdings in Alphabet were worth $13,637,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. BW Gestao de Investimentos Ltda. raised its stake in Alphabet by 82.0% during the first quarter. BW Gestao de Investimentos Ltda. now owns 29,571 shares of the information services provider's stock valued at $4,573,000 after purchasing an additional 13,326 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in Alphabet by 3.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 3,151 shares of the information services provider's stock valued at $487,000 after purchasing an additional 95 shares in the last quarter. Belmont Capital LLC raised its stake in Alphabet by 10.7% during the first quarter. Belmont Capital LLC now owns 49,940 shares of the information services provider's stock valued at $7,723,000 after purchasing an additional 4,840 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Alphabet by 0.4% in the first quarter. Alliancebernstein L.P. now owns 10,171,021 shares of the information services provider's stock valued at $1,572,847,000 after acquiring an additional 41,660 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Alphabet by 16.4% in the first quarter. AQR Capital Management LLC now owns 3,160,455 shares of the information services provider's stock valued at $479,220,000 after acquiring an additional 444,588 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. JMP Securities increased their target price on shares of Alphabet from $225.00 to $250.00 and gave the company a "market outperform" rating in a research note on Wednesday. Loop Capital reissued a "hold" rating and issued a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research note on Wednesday. Sanford C. Bernstein upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC lifted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.33.

Alphabet Stock Up 1.2%

Shares of GOOGL traded up $2.70 during midday trading on Friday, hitting $235.00. 46,562,292 shares of the company's stock traded hands, compared to its average volume of 33,713,716. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $235.76. The firm's fifty day moving average is $195.79 and its 200-day moving average is $175.41. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.84 trillion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 11.64% of the company's stock.

Alphabet 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.