Corebridge Financial Inc. Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Corebridge Financial Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,346 shares of the information services provider's stock after selling 52,897 shares during the quarter. Alphabet accounts for about 1.4% of Corebridge Financial Inc.'s investment portfolio, making the stock its 9th largest position. Corebridge Financial Inc.'s holdings in Alphabet were worth $251,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. FMR LLC grew its position in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after buying an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider's stock valued at $5,870,181,000 after buying an additional 875,480 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Remove Ads

Alphabet Stock Up 1.7 %

Shares of NASDAQ GOOG traded up $2.86 during mid-day trading on Tuesday, reaching $172.79. 13,791,642 shares of the company's stock were exchanged, compared to its average volume of 17,844,933. Alphabet Inc. has a twelve month low of $148.20 and a twelve month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.34 and a beta of 1.03. The business has a fifty day simple moving average of $183.93 and a 200 day simple moving average of $178.30.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 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, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, March 10th. Alphabet's payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOG shares. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Rosenblatt Securities reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $209.13.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 12.99% 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.