Stonebridge Capital Management Inc. Sells 600 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stonebridge Capital Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,530 shares of the information services provider’s stock after selling 600 shares during the period. Stonebridge Capital Management Inc.’s holdings in Alphabet were worth $1,979,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. DC Investments Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet in the 1st quarter worth $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the 1st quarter worth $206,000. Eudaimonia Advisors LLC raised its stake in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth $281,000. 35.08% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.5 %

Shares of NASDAQ:GOOGL opened at $137.40 on Friday. The company has a fifty day moving average of $129.24 and a 200-day moving average of $117.17. The company has a market capitalization of $1.73 trillion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $138.70.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,497 shares of company stock valued at $12,785,260. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Susquehanna reaffirmed a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. The Goldman Sachs Group lifted their price target on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Stifel Nicolaus lifted their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, July 21st. JMP Securities reissued a “market outperform” rating and issued a $138.00 price target on shares of Alphabet in a research note on Wednesday, August 30th. Finally, Credit Suisse Group lifted their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.89.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.