Alphabet Inc. (NASDAQ:GOOG) is Bridge Creek Capital Management LLC’s 5th Largest Position

Bridge Creek Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,135 shares of the information services provider’s stock after selling 580 shares during the quarter. Alphabet comprises about 2.9% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 5th largest position. Bridge Creek Capital Management LLC’s holdings in Alphabet were worth $9,357,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the 3rd quarter valued at $33,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,387 shares of company stock worth $27,748,931. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.6 %

NASDAQ:GOOG traded down $1.20 during midday trading on Monday, hitting $191.97. 8,335,281 shares of the company were exchanged, compared to its average volume of 15,722,723. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a market capitalization of $2.35 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $184.12 and a 200 day simple moving average of $174.45.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.