Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by J. L. Bainbridge & Co. Inc.

J. L. Bainbridge & Co. Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,825 shares of the information services provider’s stock after selling 1,935 shares during the quarter. Alphabet makes up about 5.2% of J. L. Bainbridge & Co. Inc.’s holdings, making the stock its 3rd biggest position. J. L. Bainbridge & Co. Inc.’s holdings in Alphabet were worth $55,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc purchased a new position in Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% in 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 acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, PayPay Securities Corp raised its position in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. DA Davidson lifted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Wedbush increased their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $165.06 on Thursday. The firm has a fifty day simple moving average of $181.11 and a 200-day simple moving average of $176.78. The company has a market capitalization of $2.01 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

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.