Alphabet Inc. (NASDAQ:GOOG) is Tower Bridge Advisors’ 3rd Largest Position

Tower Bridge Advisors lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,154 shares of the information services provider’s stock after selling 3,823 shares during the quarter. Alphabet comprises 4.1% of Tower Bridge Advisors’ holdings, making the stock its 3rd largest position. Tower Bridge Advisors’ holdings in Alphabet were worth $38,308,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Veridan Wealth LLC acquired a new position in Alphabet in the 4th quarter valued at $438,000. Mills Wealth Advisors LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $271,000. Dynasty Wealth Management LLC raised its position in shares of Alphabet by 3.2% in the fourth quarter. Dynasty Wealth Management LLC now owns 22,134 shares of the information services provider’s stock valued at $4,215,000 after buying an additional 690 shares during the last quarter. Fielder Capital Group LLC lifted its stake in shares of Alphabet by 1.6% in the fourth quarter. Fielder Capital Group LLC now owns 6,394 shares of the information services provider’s stock worth $1,218,000 after buying an additional 100 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Alphabet by 4.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 23,111 shares of the information services provider’s stock worth $4,401,000 after acquiring an additional 940 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 2.1 %

Alphabet stock opened at $168.66 on Tuesday. The company has a market capitalization of $2.06 trillion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The firm has a 50 day moving average price of $191.63 and a 200 day moving average price of $177.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of research firms have commented on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on 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 sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,316 shares of company stock valued at $25,062,887. 12.99% of the stock is currently owned by company insiders.

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.