Rockbridge Investment Management LCC Sells 742 Shares of Alphabet Inc. (NASDAQ:GOOG)

Rockbridge Investment Management LCC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the information services provider’s stock after selling 742 shares during the period. Rockbridge Investment Management LCC’s holdings in Alphabet were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOG. Principal Financial Group Inc. boosted its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Alphabet in the third quarter valued at approximately $1,445,000. Cynosure Group LLC boosted its stake in Alphabet by 42.8% in the third quarter. Cynosure Group LLC now owns 3,861 shares of the information services provider’s stock valued at $646,000 after acquiring an additional 1,158 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after purchasing an additional 1,630,701 shares during the last quarter. Finally, Baupost Group LLC MA increased its position in shares of Alphabet by 37.0% during the third quarter. Baupost Group LLC MA now owns 1,465,588 shares of the information services provider’s stock worth $245,032,000 after purchasing an additional 396,000 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 3.3 %

GOOG stock opened at $167.14 on Thursday. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70. 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 $2.04 trillion, a P/E ratio of 20.76, a PEG ratio of 1.34 and a beta of 1.03. The company’s 50-day simple moving average is $182.96 and its 200-day simple moving average is $178.36.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate 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 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Finally, Oppenheimer boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.