WealthBridge Capital Management LLC Trims Stock Position in Alphabet Inc. $GOOG

WealthBridge Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 30,584 shares of the information services provider’s stock after selling 471 shares during the period. Alphabet makes up about 1.4% of WealthBridge Capital Management LLC’s investment portfolio, making the stock its 16th largest position. WealthBridge Capital Management LLC’s holdings in Alphabet were worth $5,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFS Advisors LLC boosted its stake in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. University of Illinois Foundation purchased a new position in Alphabet during the second quarter valued at $31,000. Finally, Fairman Group LLC lifted its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Sanford C. Bernstein upped their price target on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Scotiabank set a $336.00 price objective on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Oppenheimer lifted their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Trading Up 3.3%

Alphabet stock opened at $299.65 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89. The firm’s 50 day moving average price is $262.98 and its 200-day moving average price is $213.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer directly owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 227,952 shares of company stock valued at $58,896,009. 12.99% of the stock is owned by company insiders.

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.