Bridgeway Capital Management LLC Sells 5,726 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bridgeway Capital Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.1% during the 4th quarter, Holdings Channel reports. The fund owned 74,816 shares of the information services provider’s stock after selling 5,726 shares during the period. Bridgeway Capital Management LLC’s holdings in Alphabet were worth $14,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bennett Selby Investments LP lifted its position in 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 during the last quarter. Macroview Investment Management LLC increased its position in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of 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 valued at $1,864,000 after purchasing an additional 53 shares during the last quarter. Cornerstone Planning Group LLC boosted 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 worth $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $164.21 on Tuesday. The stock has a 50 day moving average price of $160.02 and a 200 day moving average price of $175.50. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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 stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the business earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Piper Sandler upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Bank of America raised their target price on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.46.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred 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 owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,824 shares of company stock worth $25,086,603 in the last ninety days. Insiders own 11.55% of the company’s stock.

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.