Pinebridge Investments L.P. Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Pinebridge Investments L.P. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 850,396 shares of the information services provider's stock after selling 59,344 shares during the quarter. Alphabet makes up about 1.2% of Pinebridge Investments L.P.'s portfolio, making the stock its 11th largest holding. Pinebridge Investments L.P.'s holdings in Alphabet were worth $161,949,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. GPS Wealth Strategies Group LLC boosted its position in shares of Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares in the last quarter. Harvest Investment Services LLC raised its stake in Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after buying an additional 138 shares during the period. North Forty Two & Co. bought a new position in Alphabet in the fourth quarter worth approximately $281,000. SageView Advisory Group LLC boosted its holdings in Alphabet by 140.6% in the fourth quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock worth $2,806,000 after acquiring an additional 8,610 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $927,000. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $2.38 during trading on Friday, reaching $163.85. 35,100,087 shares of the stock traded hands, compared to its average volume of 19,459,692. 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 stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a 50-day moving average of $164.69 and a 200-day moving average of $177.17.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.04 by $0.77. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Benchmark restated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a report on Friday. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

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.