Onyx Bridge Wealth Group LLC Grows Holdings in Alphabet Inc. $GOOGL

Onyx Bridge Wealth Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 17.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,905 shares of the information services provider’s stock after acquiring an additional 2,537 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Alphabet were worth $4,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Financial Gravity Companies Inc. bought a new position in shares of Alphabet during the 2nd quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Alphabet during the third quarter valued at approximately $53,000. Corsicana & Co. bought a new position in shares of Alphabet in the third quarter worth approximately $54,000. Sellwood Investment Partners LLC bought a new stake in Alphabet in the 3rd quarter worth $63,000. Finally, Vermillion & White Wealth Management Group LLC raised its stake in shares of Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7%

Shares of Alphabet stock opened at $313.00 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The business has a 50-day moving average price of $320.80 and a 200-day moving average price of $281.27. The firm has a market cap of $3.79 trillion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.82 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio is presently 7.77%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total value of $10,637,250.00. Following the sale, the chief executive officer owned 2,211,872 shares in the company, valued at $723,945,705.60. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total transaction of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,112,482 shares of company stock worth $119,145,289 in the last 90 days. 11.64% of the stock is owned by insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Ratings Changes

Several analysts have commented on GOOGL shares. Moffett Nathanson raised their price objective on shares of Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. DA Davidson raised their price objective on Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. DZ Bank reissued a “buy” rating on shares of Alphabet in a report on Monday, February 16th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Monday, February 9th. Finally, HSBC boosted their price target on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Three analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $366.57.

Get Our Latest Stock Report on GOOGL

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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