Pinebridge Investments L.P. Has $304.52 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pinebridge Investments L.P. boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,608,678 shares of the information services provider's stock after acquiring an additional 59,542 shares during the quarter. Alphabet accounts for 2.3% of Pinebridge Investments L.P.'s investment portfolio, making the stock its 7th biggest position. Pinebridge Investments L.P.'s holdings in Alphabet were worth $304,523,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% in the fourth 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, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOGL. BMO Capital Markets restated an "outperform" rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, KeyCorp increased their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $199.03.

Alphabet Trading Up 1.7 %

Shares of Alphabet stock traded up $2.68 during trading on Friday, hitting $161.96. 55,957,898 shares of the company were exchanged, compared to its average volume of 28,435,946. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm's fifty day moving average price is $162.18 and its 200 day moving average price is $175.43. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. As a group, sell-side analysts expect 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. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was 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 this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 over the last quarter. Corporate insiders own 11.55% of the company's stock.

About Alphabet

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.