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

IronBridge Private Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 50.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,721 shares of the information services provider’s stock after selling 18,168 shares during the quarter. Alphabet accounts for about 1.1% of IronBridge Private Wealth LLC’s investment portfolio, making the stock its 26th largest holding. IronBridge Private Wealth LLC’s holdings in Alphabet were worth $2,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC grew its stake in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC lifted its holdings in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc increased its holdings in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $189.82 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The business’s fifty day moving average is $171.63 and its 200-day moving average is $170.71. The company has a market cap of $2.32 trillion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,623 shares of company stock valued at $34,413,006. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.08.

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.