Pinebridge Investments L.P. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pinebridge Investments L.P. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,608,678 shares of the information services provider’s stock after acquiring an additional 59,542 shares during the period. Alphabet comprises approximately 2.3% of Pinebridge Investments L.P.’s holdings, making the stock its 7th largest position. Pinebridge Investments L.P.’s holdings in Alphabet were worth $304,523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bennett Selby Investments LP grew its stake in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC grew its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wolfe Research lifted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Finally, KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.74.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.6 %

NASDAQ GOOGL opened at $151.47 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $1.85 trillion, a P/E ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. The company’s 50 day simple moving average is $163.72 and its 200 day simple moving average is $175.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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 expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is 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.