Stonebridge Financial Group LLC Acquires 2,060 Shares of Alphabet Inc. $GOOGL

Key Points

• Stonebridge Financial Group LLC increased its holdings in Alphabet Inc. by 5.5%, acquiring an additional 2,060 shares to bring its total ownership to 39,601 shares, valued at approximately $6.98 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for over $8.1 million, resulting in a 1.34% decrease in his position.
• Alphabet's stock performance shows a one-year high of $256.96 and a recent opening price of $253.30, with a market cap of $3.06 trillion and positive earnings surpassing analysts' expectations.

Stonebridge Financial Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,601 shares of the information services provider's stock after buying an additional 2,060 shares during the period. Stonebridge Financial Group LLC's holdings in Alphabet were worth $6,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Missouri Trust & Investment Co increased its position in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock valued at $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC boosted its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC grew its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after acquiring an additional 59 shares during the period. Financial Council LLC raised its position in shares of Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider's stock worth $1,022,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth raised its position in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last three months. Insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $253.30 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The firm's 50-day moving average is $231.55 and its 200 day moving average is $192.14. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on GOOGL shares. UBS Group lifted their price target on Alphabet from $237.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, October 9th. Cantor Fitzgerald raised their price objective on Alphabet from $201.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Susquehanna boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $252.24.

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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