Stonebridge Capital Management Inc. Has $5.71 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Stonebridge Capital Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,960 shares of the information services provider’s stock after selling 800 shares during the period. Alphabet makes up about 2.3% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Stonebridge Capital Management Inc.’s holdings in Alphabet were worth $5,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. SignalPoint Asset Management LLC grew its holdings in shares of Alphabet by 1.0% during the fourth quarter. SignalPoint Asset Management LLC now owns 23,682 shares of the information services provider’s stock worth $4,510,000 after buying an additional 244 shares in the last quarter. MPS Loria Financial Planners LLC grew its stake in shares of Alphabet by 15.5% during the 4th quarter. MPS Loria Financial Planners LLC now owns 6,084 shares of the information services provider’s stock worth $1,159,000 after acquiring an additional 818 shares in the last quarter. Winch Advisory Services LLC raised its holdings in shares of Alphabet by 0.4% in the fourth quarter. Winch Advisory Services LLC now owns 65,288 shares of the information services provider’s stock valued at $12,433,000 after purchasing an additional 231 shares during the last quarter. Rovin Capital UT ADV lifted its position in shares of Alphabet by 23.4% in the fourth quarter. Rovin Capital UT ADV now owns 2,908 shares of the information services provider’s stock worth $554,000 after purchasing an additional 551 shares in the last quarter. Finally, Stolper Co boosted its holdings in Alphabet by 0.6% during the fourth quarter. Stolper Co now owns 50,089 shares of the information services provider’s stock worth $9,539,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $197.55 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $185.56 and a 200 day simple moving average of $174.84. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

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.