IronBridge Private Wealth LLC Has $2.94 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

IronBridge Private Wealth LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 50.6% in the third quarter, Holdings Channel.com reports. The firm owned 17,721 shares of the information services provider’s stock after selling 18,168 shares during the quarter. Alphabet makes up approximately 1.1% of IronBridge Private Wealth LLC’s investment portfolio, making the stock its 26th largest position. IronBridge Private Wealth LLC’s holdings in Alphabet were worth $2,939,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its position in shares of Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares in the last quarter. RFG Advisory LLC increased its stake in Alphabet by 27.7% in the 2nd quarter. RFG Advisory LLC now owns 67,487 shares of the information services provider’s stock valued at $12,293,000 after buying an additional 14,647 shares during the last quarter. Realta Investment Advisors lifted its position in Alphabet by 5.7% during the 2nd quarter. Realta Investment Advisors now owns 31,879 shares of the information services provider’s stock worth $5,807,000 after buying an additional 1,730 shares in the last quarter. Granite Bay Wealth Management LLC boosted its stake in shares of Alphabet by 6,410.2% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 109,566 shares of the information services provider’s stock worth $18,488,000 after buying an additional 107,883 shares during the last quarter. Finally, Northwest Investment Counselors LLC grew its holdings in shares of Alphabet by 3.5% in the 2nd quarter. Northwest Investment Counselors LLC now owns 17,595 shares of the information services provider’s stock valued at $3,205,000 after acquiring an additional 590 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $189.82 on Friday. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50 day simple moving average is $171.63 and its 200 day simple moving average is $170.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company posted $1.55 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein increased their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.08.

Insider Activity

In other news, 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 transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,623 shares of company stock worth $34,413,006. Corporate insiders own 11.55% of the company’s stock.

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.