Stonebridge Financial Group LLC Invests $5.81 Million in Alphabet Inc. (NASDAQ:GOOGL)

Stonebridge Financial Group LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,686 shares of the information services provider's stock, valued at approximately $5,809,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet during the 3rd quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC lifted its position in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an "outperform" rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Wolfe Research lifted their price objective on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Robert W. Baird restated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Finally, Piper Sandler dropped their price objective on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $210.62.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 over the last three months. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock traded down $4.90 during trading on Friday, hitting $179.66. The stock had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The firm has a market cap of $2.19 trillion, a P/E ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. 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 business has a fifty day moving average of $192.46 and a two-hundred day moving average of $175.69.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio is 9.94%.

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.