Bronte Capital Management Pty Ltd. Sells 422 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bronte Capital Management Pty Ltd. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,338 shares of the information services provider’s stock after selling 422 shares during the period. Alphabet accounts for about 0.9% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 19th largest position. Bronte Capital Management Pty Ltd.’s holdings in Alphabet were worth $9,772,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Veracity Capital LLC grew its position in Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its position in Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank grew its position in Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the last quarter. CNB Bank grew its position in Alphabet by 6.6% during the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC grew its position in Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the sale, the director now owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.2 %

NASDAQ GOOG traded down $1.99 during trading hours on Friday, reaching $169.59. The company had a trading volume of 4,157,996 shares, compared to its average volume of 22,311,477. The stock has a 50-day moving average of $153.41 and a 200 day moving average of $144.40. Alphabet Inc. has a 1-year low of $114.93 and a 1-year high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.