Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,120 shares of the information services provider’s stock after selling 155 shares during the period. Bridge Creek Capital Management LLC’s holdings in Alphabet were worth $849,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its position in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares in the last quarter. Capital World Investors lifted its position in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Truist Financial upped their price objective on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reduced their price target on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $165.16 on Thursday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market cap of $2.04 trillion, a P/E ratio of 25.33, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average is $161.76 and its two-hundred day moving average is $168.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Company 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.