Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,405 shares of the information services provider’s stock after buying an additional 2,452 shares during the quarter. Alphabet accounts for about 3.9% of Stonebridge Capital Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Stonebridge Capital Advisors LLC’s holdings in Alphabet were worth $48,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after purchasing an additional 337,031 shares during the period. Passumpsic Savings Bank lifted its position in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock worth $779,000 after buying an additional 1,294 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Alphabet by 0.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock valued at $6,199,000 after buying an additional 202 shares during the period. SkyView Investment Advisors LLC grew its position in shares of Alphabet by 6.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock valued at $382,000 after buying an additional 130 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in Alphabet by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock worth $22,703,000 after acquiring an additional 22,169 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock valued at $25,361,647 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL opened at $155.65 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.90 trillion, a PE ratio of 19.33, a PEG ratio of 1.34 and a beta of 1.03. The firm’s 50 day moving average price is $163.13 and its 200 day moving average price is $175.47. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared 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 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Morgan Stanley dropped their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. BMO Capital Markets reissued an “outperform” rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday. Finally, Citigroup lowered their target price on Alphabet from $229.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.64.

Alphabet 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.