Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,594,643 shares of the information services provider’s stock after selling 162,115 shares during the period. Alphabet accounts for about 1.6% of Corebridge Financial Inc.’s investment portfolio, making the stock its 8th biggest position. Corebridge Financial Inc.’s holdings in Alphabet were worth $301,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Denver PWM LLC raised its position in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,690 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,297 shares of company stock worth $15,936,270. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.0 %

GOOGL stock opened at $157.04 on Thursday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. The company’s 50-day simple moving average is $177.19 and its 200-day simple moving average is $176.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOGL shares. Morgan Stanley cut their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Finally, Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.49.

About Alphabet

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.