Alphabet Inc. (NASDAQ:GOOGL) Stock Position Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,594,643 shares of the information services provider's stock after selling 162,115 shares during the quarter. Alphabet comprises approximately 1.6% of Corebridge Financial Inc.'s holdings, making the stock its 8th largest holding. Corebridge Financial Inc.'s holdings in Alphabet were worth $301,866,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $39,000. PayPay Securities Corp increased 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 acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC increased its position in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet Price Performance

NASDAQ GOOGL traded down $6.32 on Thursday, reaching $150.72. 46,763,615 shares of the company's stock traded hands, compared to its average volume of 27,471,312. The stock has a market cap of $1.84 trillion, a PE ratio of 18.72, a P/E/G ratio of 1.34 and a beta of 1.03. 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 Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The stock has a 50-day simple moving average of $177.19 and a 200 day simple moving average of $176.95.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday. Piper Sandler cut their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Morgan Stanley dropped their price objective on Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Bank of America reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $209.13.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company's stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,297 shares of company stock valued at $15,936,270 over the last quarter. 11.55% of the stock is owned by company insiders.

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.