Bleakley Financial Group LLC Has $27.35 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Bleakley Financial Group LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,456 shares of the information services provider’s stock after selling 373 shares during the period. Alphabet accounts for about 0.8% of Bleakley Financial Group LLC’s holdings, making the stock its 23rd biggest holding. Bleakley Financial Group LLC’s holdings in Alphabet were worth $27,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in Alphabet during the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $39,000. Denver PWM LLC increased its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the third quarter valued at approximately $66,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald decreased their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Finally, Citigroup cut their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $185.23 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.27 trillion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The firm’s 50-day simple moving average is $192.85 and its two-hundred day simple moving average is $175.14.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts predict that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.