Bronte Capital Management Pty Ltd. Has $101,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Bronte Capital Management Pty Ltd. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 39.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,955 shares of the information services provider’s stock after selling 352,997 shares during the quarter. Alphabet accounts for 0.0% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 15th largest position. Bronte Capital Management Pty Ltd.’s holdings in Alphabet were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Pettinga Financial Advisors LLC raised its holdings in Alphabet by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after acquiring an additional 201 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Alphabet by 6.8% during the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after purchasing an additional 46,677 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in Alphabet by 26.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider’s stock valued at $1,377,000 after buying an additional 1,749 shares during the period. Finally, Round Rock Advisors LLC lifted its position in shares of Alphabet by 7.5% in the third quarter. Round Rock Advisors LLC now owns 9,324 shares of the information services provider’s stock valued at $1,546,000 after buying an additional 649 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was 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 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 93,048 shares of company stock valued at $17,374,274 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Finally, Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Stock Performance

NASDAQ GOOGL opened at $167.68 on Tuesday. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The stock has a market cap of $2.04 trillion, a PE ratio of 20.83, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s fifty day moving average price is $182.10 and its two-hundred day moving average price is $176.73.

Alphabet (NASDAQ:GOOGL) last issued its 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%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.