Bridge Advisory LLC Has $1.05 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bridge Advisory LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,340 shares of the information services provider’s stock after selling 64 shares during the quarter. Bridge Advisory LLC’s holdings in Alphabet were worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Global Wealth Strategies & Associates boosted its position in Alphabet by 20.4% during the 3rd quarter. Global Wealth Strategies & Associates now owns 1,841 shares of the information services provider’s stock worth $305,000 after acquiring an additional 312 shares during the last quarter. Ashburton Jersey Ltd acquired a new position in Alphabet during the 2nd quarter worth approximately $1,328,000. Sage Advisors LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $234,000. Alternative Investment Advisors LLC. acquired a new position in Alphabet during the 2nd quarter worth approximately $1,950,000. Finally, Centaurus Financial Inc. boosted its position in Alphabet by 23.7% during the 2nd quarter. Centaurus Financial Inc. now owns 50,059 shares of the information services provider’s stock worth $9,118,000 after acquiring an additional 9,582 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets reduced their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Loop Capital reiterated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.95.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOGL opened at $163.24 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The stock’s fifty day moving average is $161.37 and its 200 day moving average is $167.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the business earned $1.44 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 over the last 90 days. Insiders own 11.55% 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.