Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,011 shares of the information services provider’s stock after acquiring an additional 1,949 shares during the quarter. Alphabet accounts for about 1.4% of BayBridge Capital Group LLC’s holdings, making the stock its 13th biggest holding. BayBridge Capital Group LLC’s holdings in Alphabet were worth $1,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC increased its stake in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors increased its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 4.0 %

Shares of NASDAQ GOOGL opened at $176.51 on Thursday. The company has a 50 day simple moving average of $162.86 and a 200 day simple moving average of $169.36. The firm has a market cap of $2.17 trillion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business earned $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday. Guggenheim raised their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,052 shares of company stock valued at $38,424,448. 11.55% of the stock is owned by company insiders.

About Alphabet

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.