Corebridge Financial Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,261,585 shares of the information services provider's stock after selling 57,761 shares during the quarter. Alphabet makes up 1.1% of Corebridge Financial Inc.'s portfolio, making the stock its 10th biggest position. Corebridge Financial Inc.'s holdings in Alphabet were worth $197,097,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $34,000. Institutional investors own 27.26% of the company's stock.
Insider Buying and Selling
In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock worth $47,223,172 in the last quarter. Corporate insiders own 12.99% of the company's stock.
Alphabet Trading Up 0.1%
GOOG stock traded up $0.26 during midday trading on Wednesday, hitting $208.21. 15,225,916 shares of the company's stock were exchanged, compared to its average volume of 19,293,208. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $211.09. The business has a 50-day simple moving average of $188.95 and a two-hundred day simple moving average of $174.99. The stock has a market capitalization of $2.52 trillion, a PE ratio of 22.17, a P/E/G ratio of 1.40 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its 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 $2.12 by $0.19. 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 $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.
Analyst Ratings Changes
A number of research firms have weighed in on GOOG. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Pivotal Research upped their target price on Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.
View Our Latest Research Report on Alphabet
Alphabet Profile
(
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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